SWIFT calls cryptocurrencies useless in London briefing

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) aims cryptocurrencies as spokesman calls cryptocurrencies useless. In a London briefing, SWIFT spokesman criticized the entire crypto markets calling them unnecessary due to their inefficiency and volatility. Whenever a revolutionary technology was introduced, there were always people who doubted their potential. People with traditional mindset were still afraid of change and have been after every revolution. Currently, the technology under discussion is blockchain technology and subsequently cryptocurrencies. As we see central banks criticizing cryptocurrencies, we know that they are afraid of another revolution. SWIFT’s breakfast briefing was conducted to discuss its new