British economic historian and author Niall Ferguson has stated that cryptocurrencies are the Financial or banking system of the future.
- Ferguson Niall is a historian, a commentator, an author of about fifteen books which include The Ascent of Money and The House of Rothschild.
- In a seminar where the 2008 financial crisis was discussed, he said that Bitcoin was part of the challenges that lay ahead for the fiat-based economy.
- In December 2017, he earlier stated that regulatory changes in the US might cause the prices of BTC to deflate but will in no way stop the revolution.
- It should be noted that Ferguson isn’t the first academician to notice how Bitcoin fits economic history as a Professor Robert Shiller, who received the 2013 Nobel prize in economics and is famous for the Case-Shiller Index, published an article talking about the way the allure of Bitcoin fits enthusiasm around previous attempts to reinvent money.
What are your thoughts on Niall’s view? Should World Countries begin to embrace it before it overtakes them, or do you think the Governments will be able to keep it at bay?