{"id":4081,"date":"2018-07-27T00:35:36","date_gmt":"2018-07-27T00:35:36","guid":{"rendered":"http:\/\/151.106.38.4\/2018\/07\/27\/cryptocurrency-is-junk-banga\/"},"modified":"2018-07-27T00:35:36","modified_gmt":"2018-07-27T00:35:36","slug":"cryptocurrency-is-junk-banga","status":"publish","type":"post","link":"https:\/\/nagalandpost.net\/index.php\/2018\/07\/27\/cryptocurrency-is-junk-banga\/","title":{"rendered":"Cryptocurrency is junk: Banga"},"content":{"rendered":"<p><img src=\/old_site\/2018_7$large_Ajay_S_Banga.jpg><\/p>\n<p >&nbsp;Calling cryptocurrency &ldquo;junk&rdquo;, Mastercard President and CEO Ajay Banga has said an &ldquo;anonymised&rdquo; currency that can fluctuate &ldquo;wildly&rdquo; does not deserve to be considered as a medium of exchange.<\/p>\n<div>The India-born head of the American multinational financial services corporation voiced concern that 95% of all illegal transactions on the dark web, including child prostitution, drugs, credit card and social security fraud, are paid for using cryptocurrency.<\/div>\n<div >Cryptocurrency is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.<\/div>\n<div >&ldquo;I think cryptocurrency is junk&hellip;.The idea of an anonymised currency produced by people who have to mine it, the value of which can fluctuate wildly &#8211; that to me is not the way that any medium of exchange deserves to be considered a medium of exchange,&rdquo; Banga said in New York.<\/div>\n<div >He was responding to questions about cryptocurrency during the &lsquo;New India Lecture&rsquo; organized earlier this week at the Indian Consulate under the aegis of Consul General Ambassador Sandeep Chakravorty.<\/div>\n<div >The lecture series is organised by the Consulate in partnership with the US-India Strategic Partnership Forum (USISPF).<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency is junk: Banga<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-4081","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/4081","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=4081"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/4081\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=4081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=4081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=4081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}