The chairman of the board of directors of the Italian bank Intesa Antonio Fallico has passed a remark on cryptocurrency and blockchain, preferring to develop the latter and refusing to make plans and work with cryptocurrencies.

“Are regulators ready to change their paradigm and move to a decentralized management model, recognize cryptocurrencies as a financial asset or a means of payment? My answer is rather negative,” he said in an interview with the Russian media Bankir.

He explained that Intesa does not work and does not plan to work with cryptocurrencies due to the lack of clear regulation.

“Speaking of cryptocurrencies, one must be very careful not to encourage financial banditry.”

The main interest of the bank is the development of solutions based on the decentralized ledger technology. According to Fallico, the use of DLT technology for cross-border payments, their monitoring and management of international accounts may leave SWIFT far behind.

In general, the blockchain technology can change the world economy in the same way as the computer has changed it.