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ARTICLE  

Nobel Prize recipient Robert Shiller calls bitcoin an interesting experiment

Robert Shiller, 2013 recipient of Nobel Prize in Economics, spoke at the World Economic Forum in Davos, Switzerland. Shiller expressed concern with the bitcoin's price instability and has stated that he tends to think of bitcoin as an interesting experiment.

CNBC News writes:

"I tend to think of bitcoin as an experiment," he said. "It is an interesting experiment, but it's not a permanent feature of our lives. We are over-emphasizing bitcoin, we should broaden it out to blockchain, which will have other applications." Blockchain is the technology that underpins bitcoin and other cryptocurrencies. It is a decentralized network that records cryptocurrency transactions.

Shiller said the world should be looking to mimic Chile's Unidad de Fomento instead.




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