SocGen chief: anonymity doesn’t help Bitcoin

The leader of one of the biggest French banks has recently told in an interview with CNBC that in his view, the anonymization tools pre-installed in cryptocurrencies do not help them to increase reputation among the officials and institutions around the world. When most countries do their best to fight money laundering and illicit finance, it is just not right to expect that they will be willing to legalize a tool of hiding such activities. “The anonymity of the transaction is a problem I think which would put pressure on Bitcoin”, Oudea concludes.

When asked about the blockchain, Frederic Oudea prefers one aspect of this technology — the distributed ledger. This plus well-defined parties equals good fintech for the leader of Societe Generale. And there is some reasonableness in policy of a giant bank that is not willing to operate with anonymous parties — SocGen, unlike many radical cryptocurrency advocates, has a reputation and assets to maintain.

Recent news suggest that the words of CEO about DLT with defined members are more than just his personal opinion: the bank plans to participate in a very serious DLT project involving large oil corporations mostly from Scandinavia.