Former US Treasury Secretary Larry Summers envisions blockchain technology succeeding at disrupting enterprise finance even though digital currencies such as Bitcoin will eventually fail . Mr Summers argues at a conference that blockchain technology become a fundamentally impactful technology , particularly for inspiring further investment by new entrants , and that he did not see it as the responsibility of regulators to prevent innovation . Although the American economist remains impartial about the possibility of a digital asset becoming a global asset , he expects the uncertainty surrounding the millions of dollars may lead companies like JP Morgan to opt for a mix of traditional dollars and euros in addition to digital currencies .
Former US Treasury Secretary Larry Summers envisions blockchain technology succeeding at disrupting enterprise finance even though digital currencies such as Bitcoin may eventually fail. Mr Summers suggested at a conference that blockchain may become a fundamentally impactful technology, particularly for inspiring further developments by new entrants, and that he did not see it as the responsibility of regulators to prevent innovation. Although the American economist remains impartial about the possibility of a digital asset becoming a global currency, he expects the uncertainty surrounding the value of Bitcoin may lead companies like JP Morgan to opt for a mix of traditional dollars and euros in addition to digital currencies.