Mobius Capital Partners founder Mark Mobius questions the security of Blockchain technology.
The Blockchain has its own weaknesses
The Blockchain is increasingly appreciated worldwide thanks to its immutability, decentralized and secure. It irrefutably improves transactions that are permanently recorded. In addition, the Blockchain is more stable than anything a traditional bank can offer its customers.
However, Mobius disputes this idea. According to him, Blockchain technology was created by man and therefore has flaws and can be “broken”.
Mark Mobius said in an interview with CNBC:
“Many people say that you can not break into a blockchain. No, it is possible. All that is created by man can be stolen. And that could be a big crisis … There is a whole generation of people who believe in the Internet. They give real confidence in these crypto-currencies. […]. People believe in the US dollar because they believe that with money in their hands, they can buy something. “
A warning against emerging technologies
Regulation is another problem that decentralized crypto-currencies can not solve. Bitcoin, Ethereum and other altcoins follow their own rules, making it difficult for financial authorities to manage the sector.
People will eventually realize the risks inherent in crypto-currencies and Blockchain, added the legendary investor and founder of Mobius Capital Partners.
“I think people will start to realize that these are very, very risky situations. And by the way, I think Blockchain is a very high risk situation. “
A cryptocurrency backed by a stable asset like gold would be greatly interesting, according to Mobius.
What do you think of the doubts raised by Mobius on the Blockchain? Share your opinion in the comments section below.