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25-01-18
UAE JadoPado founder: cryptocurrencies not real currencies to banks
(MENAFN) The founder of JadoPado, Omar Kassim, revealed the explanation behind cryptocurrencies to have raised such concerns within banks is because the tokens are 'not actually currencies.'
Kassim is currently preparing to launch crypto exchange and OTC market BitPado.com in Dubai.
Rather than being actual currencies, cryptocurrencies are closer to being commodities, he noted in an interview with Arabian Business.
The founder explained "they have some aspects of currencies for sure, but if you look at traditional properties of a currency, such as store value and being issued by an essential government, then cryptocurrencies don't meet that bar. Yet people are starting to treat them that way."
MENAFN2501201800450000ID1096389117
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