Stephen Cecchetti: Cryptocurrency Market Resembles Online Game World of Warcraft
Brandeis University of Massachusetts International School of Business Stephen Cecchetti compares the cryptocurrency market with World of Warcraft, an online game popular with millions of users.
“The strongest argument, I think, against regulation is the discussion of legitimacy. The cryptocurrency market has nothing to do with the real economy and rather develops in parallel with traditional financial institutions,” the scientist said at a crypto debate held by Brookings University.
According to the expert, the industry resembles the system in the World of Warcraft online RPG, where there are about 120 million players and their own economy. Cecchetti points out that the positive thing about World of Warcraft's in-game economy is that there is no financial regulator. No one, including the developers and publishers of the game, would want any additional oversight of the players.
