The CEO of the large Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) Carlos Torres said that the technology of the blockchain is "immature" and has a number of serious problems, reports Сointelegraph.
This position was expressed by the financier at an event dedicated to discussing the prospects and limitations of the blockchain, organized by the Spanish Association of Economic Journalism.
According to Torres, the main problems of the blockchain are "volatility of underlying currencies” and possible compatibility issues with tax authorities and financial regulators.
Torres added that, given its potential, the blockchain needed adequate and unlimited, but controlled conditions for the development.
The BBVA was founded in Bilbao in the late 19th century. In 2017 the bank became the second in Spain in terms of assets and capitalization.