Federal Reserve's Kashkari: Cryptocurrencies are "basically useless"

Neal Kashkari, president of the Federal Reserve Bank of Minneapolis, expressed sharply contrasting views on cryptocurrency and artificial intelligence during a virtual event. He stated that cryptocurrency is "basically useless" for the average person, arguing that it lacks practical application for ordinary consumers; while he held a positive view of artificial intelligence, calling it useful, although most companies are still in the testing phase.