The fast rise, and even faster decline, of the value of bitcoin has stoked fears about the risky nature of cryptocurrency investment.
But Associate Professor J.P. Vergne, co-director of the Scotiabank Digital Banking Lab at Ivey Business School, sees a solid future for the technology-based coin.
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“People often compare bitcoin to a commodity, a security, or a currency, but the inescapable reality is that bitcoin (and other cryptos) is technology,” he tells The Toronto Star. “The more developers volunteer time and effort to improve the underlying technology (e.g. software, protocol, network infrastructure), the more valuable cryptos become.”
