Elon Musk: Tesla Won’t Use Crypto Currencies

Elon Musk who used to be positive about Bitcoin claimed recently that his company would not use blockchain and crypto currencies. According to him, digital currencies can become an excellent money transfer method, but they are not promising for Tesla and SpaceX.

Tesla Without Blockchain
Musk said in a recent interview that Bitcoin could replace real money, but, in fact, it wasn’t a reliable tool for making financial operators. Big companies shouldn’t use the technology because it is too young, its adoption may take many years.

Last year, Tesla’s head mentioned Bitcoin in Twitter post. According to him, the crypto currency hasn’t reached the level ensuring maximum possible security for its users yet. Later, he said it was a joke because he couldn’t imagine that the main coin would recover so fast.

Musk criticized the crypto currency industry again, but also highlighted several fundamental characteristics which make Bitcoin actual:
? Mining as an opportunity to develop the industry,
? Minimum costs,
? Usage convenience.

According to Elon Musk, the main disadvantage is absence of a clear user data security protection system.