Former Israeli Prime Minister Ehud Barak blasted the digital currency system known as “Bitcoin”, comparing it and similar so-called “crypto-currencies” to Ponzi schemes.
Barak distinguished crypto-currencies, however, from blockchain, the decentralized digital ledger system used to measure crypto-currencies like Bitcoin.
“Blockchain is a technological-mathematical concept, an interesting and important method, and one that will have many uses. Bitcoin and crypto-currencies is a Ponzi scheme. I do not believe that it will be possible to make a coin like this and I will not invest in crypto-currencies.”
“Anyone who has patience and understands the depth of blockchain will find many uses, from holding sensitive medical information to smart contracts.”
Read more at Arutz Sheva.