Cryptocurrency will be 'quite valuable and quite useful' as it grows in popularity

Founder of the Switzer Report Peter Switzer says as cryptocurrency continues to grow in popularity, he thinks the central banks of the world will create more “digital coins, which will become more stable”.

Treasurer Josh Frydenberg has said he plans to protect consumers as cryptocurrency becomes more popular.

However, RBA Governor Philip Lowe recently warned Australians about investing in cryptocurrencies.

“They’ll be quite valuable and quite useful because when you use cryptocurrencies, it’s recorded on the blockchain,” Mr Switzer told Sky News host Chris Smith.