Economist Nouriel Roubini: Blockchain and bitcoin are the world’s biggest scams
New York University professor and global economist Nouriel Roubini testified before the U.S. Senate Committee on Banking last week, saying cryptocurrencies such as bitcoin are the mother of all scams and bubbles.
He followed that assertion up by calling blockchain, the technology unpinning bitcoin, "the most over-hyped — and least useful — technology in human history."
Today, Roubini doubled down on his claims in a column published on CNBC.com in which he said blockchain has promised to cure the world's ills through decentralization but is "just a ruse to separate retail investors from their hard-earned real money."