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24 Jan, 2018 09:51

National cryptocurrencies to challenge bitcoin this year

National cryptocurrencies to challenge bitcoin this year

As long as people perceive bitcoin as digital gold, its price will go up, Universa CEO Alexander Borodich says. According to him, many countries would like to have their own centralized, official cryptocurrencies.

Talking to RT on the sidelines of the Davos Economic Forum, Borodich said governments will definitely regulate cryptocurrencies. “From my perspective, they will offer state country-wide cryptocurrencies like crypto-ruble or crypto-barrel if they like to… back the oil they have or other natural resources.”

He added that we “will definitely see in 2018 the first signs of such national cryptocurrencies as an opposite to bitcoin.”

Discussing blockchain, Borodich, whose company is working with the technology, said everyone could use it in everyday life.

“Blockchain is a very low-level technology which will support next technological wave; change the world from centralization to decentralization; help to share information with others in very secure and protected way.”

The expert compared blockchain with the internet of 1994, when the browser was created. Today, the browser is the way we actually perceive the internet as a service. We don’t currently have such a browser for blockchain, he explained.

“So, blockchain is mostly for geeks, for those who do understand all those difficulties. I think, this year we will see first applications which will make blockchain way easier for us as normal people to use it,” he said.

For more stories on economy & finance visit RT's business section