The professor warns that bitcoin “won’t last long.”

Bitcoin’s future is anyone’s guess. However, one professor believes that the world’s most popular cryptocurrency may disappear in the very near future.

However, he believes that the cryptocurrency has made a real revolution.

As he told CNBC, Eswar Prasad, senior professor of international trade policy at Cornell University, believes that "Bitcoin alone won't last long." Although the future of Bitcoin is uncertain and there are many speculations, the professor believes that it will disappear in the near future.

The world used to know only a few cryptographic coins. However, today there are hundreds of others that are more useful and environmentally friendly than Bitcoin. Moreover, the price of this has been very volatile lately.

The use of bitcoins in blockchain technology is not very efficient.

Said Prasad, author of The Future of Money: How the Digital Revolution is Changing Currencies and Finance.

According to him, the cryptocurrency "uses a mechanism to verify transactions that are damaging to the environment," with new cryptocurrencies, the technology of which is much more efficient. In fact, the carbon footprint bitcoin superior to New Zealand.

Eswar Prasad, Senior Professor of International Trade Policy, Cornell University

The professor believes that blockchain technology will transform how funding is handled and how day-to-day transactions are handled.

Given that bitcoin does not perform well as an instrument of exchange, I do not think it has any other fundamental value other than that which the investor's faith gives it.

You mentioned prasadam.

On the other hand, the professor said that digital currencies can be useful as they can provide a lower payment option available to everyone, increasing financial inclusion and possibly stability.

As much as I dislike Bitcoin, it really sparked a revolution that will ultimately benefit all of us, directly or indirectly.

Finished.

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