An EY executive who recently visited India and met with a number of government agencies has voiced his opinion about the future of cryptocurrencies in the country. He believes that bitcoin has no practical use, is just another “foreign” currency, and its widespread adoption could be “very damaging to the global economy.”

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‘No Practical Use’

Paul R. Brody, EY’s Global Innovation Leader (Blockchain), has shared his thoughts on the future of the crypto industry in India after his recent visit to the country. EY is one of the world’s largest professional services firms and one of the “Big Four” audit firms.

EY Executive Says Bitcoin Has No Practical Use in India
Paul R. Brody, EY’s Global Innovation Leader (Blockchain)

Brody describes himself as “responsible for driving EY’s initiatives and investments in blockchain technology across consulting, audit, and tax business lines.” In an interview with Forbes India published Monday, he was asked: “Do you see any future…

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Source: https://news.bitcoin.com/ey-bitcoin-no-practical-use-india/