"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.