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Cryptocurrency

Roubini and Taleb tell CoinGeek conference data matters, not tokens

June 11, 2021. Summarized by summa-bot.

Compression ratio: 52.3%. 2 min read.

Tokens should be separated from blockchain’s use-case throughout the fintech industry, economist Nouriel Roubini explained at a BSV run panel in Zurich.

Economist Nouriel Roubini and former risk analyst Nassim Taleb took aim at crypto at the CoinGeek conference this week, while the always controversial Craig Wright boasted that the BSV blockchain was on track to hit billions of transactions a second.

“Data is very valuable, it’s the new oil,” he explained, lamenting that “99%” of the fintech application “has nothing to do with cryptocurrencies. ” What is needed, Roubini explained, is a service that is “reliable, that stores the data, says who owns it and who pays for it. ”

Taleb followed Roubini on the panel, agreeing that the data utilities enabled by cryptocurrency should be understood as a separate phenomenon to the cryptographic tokens issued by many blockchain projects.

Well, criminals need cryptos, except it doesn’t work for them. ”

The host attempted to get the panel back on track asking Taleb if he agrees that “BTC does not represent what the Bitcoin Whitepaper describes. ”

In response, Taleb admitted he thinks Bitcoin in its current form does not resemble the whitepaper, but countered that “the currency in the whitepaper may not be what we are looking for. ”

As you might expect, those Bitcoiners who did tune in were hate watching the broadcast, including YouTuber “BTC Sessions” who shared that they only “hopped on the stream for a second just to give it a thumbs down. ”

Wright’s chief critic Arther van Pelt also tuned in to throw stones and tweeted that the panel was receiving very little viewership, calling it a “clown show. ”

Hardly 650 viewers on YouTube when Ian Grigg, Craig #Faketoshi Wright, Nouriel Roubini and Nassim Taleb are on stage.

by summa-bot

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