Nobel laureate economist Paul Krugmanthinks that the latest developments can bring the end of cryptocurrencies.
Nobel Economics laureate Krugman is known for his anti-blockchain and anti-crypto identity. The author believes that the latest developments could be the end of the industry.
Koinfinans.com As we reported, Krugman, who published a new article in the New York Times, criticized the term ‘crypto winter’ used to describe the current crisis. According to the economist, this definition is rather inadequate. According to the economist cryptocurrency The decline in the sector is more like Fimbulwinter than a winter. Fimbulwinter means the harsh winter that comes before the end of the world, according to Norse mythology.
In the rest of the article, he criticized the blockchain, which is the basis of Bitcoin, and stated that it is useless. He further strengthened his argument by claiming that trust in the blockchain waned after the FTX crash. The economist recalled that Daish shipping giant Maersk has recently abandoned its enterprise blockchain project, which is supposed to improve global trade.
“I’m sure I will continue to hear comments from people who say they don’t understand blockchain. But as far as I can tell, the system was never understood.”
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