A UK government inquiry into the potential legal status of cryptocurrency was told on Tuesday it represents a "huge source of risk" for payments firms — and its underlying blockchain technology "has become a fad".
Martin Walker, a director of the Centre for Evidence Based Management (CEBM), cast doubt on the usefulness of the technology to the financial sector during an oral evidence session hosted by the Treasury Select Committee.
Asked whether he sees financial institutions deriving any use from blockchain, he replied: “In terms of demonstrable benefits? Little to nothing.”
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