Ralph Hamers, the Chief Executive of ING, has said that there is not yet enough detail behind what caused the unprecedented increase in the value of cryptocurrencies such as ethereum and bitcoin.
The ING chief executive was talking at a tech leadership platform Hot Topics during a financial and technology event that is called the Money 20/20.
Hamers stated: “How the value behind cryptocurrency is driven, how to manage that valuation… I’m yet to be convinved.”
Hamers also discussed more widely regarding the future of the banking industry.
He stated “It’s certainly not developing yet another product with more features that customers don’t understand.
“Keep your products simple, and keep your experience simple, then you truly empower people.”