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Australia: Cryptocurrency unlikely for retail payments, Facebook or not

From thenextweb.com

The world is still processing the specifics of Facebook‘s Libra digital currency, but even the Reserve Bank of Australia (RBA) has realized it’s set to rub cryptocurrency purists the wrong way. In a whopping 5,800-word paper published earlier today, four RBA analysts argued there’s “little likelihood of a material take-up of cryptocurrencies for retail payments in Australia in the foreseeable future,” reports the Sydney Morning Herald via AAP. To the RBA, cryptocurrencies suffer from a “scalability trilemma,” a trade-off that inevitably sees a digital asset fail in one of three areas: scalability, security, or ... (full story)

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