Zhou Xiaochuan: Some Cryptocurrencies Have Already Lost Ground in the Payments Space

[ChainDD report] June 11 (ChainDD) Zhou Xiaochuan, the vice chairman of the Boao Forum for Asia, said at the 13th Lujiazui Forum that cryptocurrencies were designed with the potential to be useful tools for the real economy, such as in payments.

In his opinion, in the early stage, there are some shortcomings in the design of cryptocurrency, such as the low number of transactions per second, the use of network resources and processing capacity, the decentralization of the emphasis on deregulation and so on.

Some cryptocurrency participants see it as a way to make quick money and will turn cryptocurrencies into digital assets. Now, however, some cryptocurrencies have lost ground in the payments space, and it's no longer appropriate.


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