Saylor Proposes Private Credit Built On Bitcoin

A study published by the Bank for International Settlements estimates that Bitcoin does not have the necessary architecture to become an everyday currency. Michael Saylor reaches a similar conclusion but advocates a different solution: keep BTC as capital and build credit products on top of this asset. Economist Iñaki Aldasoro published on October 14 a study entitled “Money and the Architecture of Trust” . This 43-page document presents money as promises based on trust, credit, and support from public institutions. While the market has just plunged again , the author estimates that a currency cannot operate on a large scale without banks, deposit insurance, and a lender of last resort.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Cointribune.