CEO Royal Bank of Canada: Bitcoin …

CEO of Royal Bank of Canada: Bitcoin is in doubt, but not a hoax

Royal Bank of Canada CEO David McKay believes that James Dimon, who called Bitcoin a hoax, was not entirely right, but at the same time does not deny that the cryptocurrency raises certain doubts in him. This was stated during a meeting dedicated to the creation of the Interbank Information Network, in which, in addition to the Canadian bank, ANZ and JPMorgan Chase became participants. His words are quoted by American Banker.

“I would never call him a hoax, because he does not distort his essence,” McKay said. “People see different values ​​in him, and this is their right, but there is no deliberate distortion of the picture here.”.

However, he notes that this does not mean that bitcoin is a full-fledged currency: “There may be many elements of bitcoin that are not consistent with our ideas about the currency unit. There are serious doubts about the application areas for bitcoin that we have yet to resolve. “.

CEO Royal Bank of Canada: Bitcoin ...

“We have three banks here, which got off the ground and started making international payments. There is a need for joint testing of this system, and we definitely want to be involved in the testing, ”McKay said..

Royal Bank of Canada already uses blockchain to conduct transactions between Canada and the United States, and also plans to develop a loyalty program on the blockchain.

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