Bancor Foundation announces death of president Bernard Lietaer

04 Feb, 2019
by David Robb
Bancor Foundation announces death of president Bernard Lietaer

The president of the Bancor Foundation passed away earlier today. The project's official Twitter made the announcement, describing him as a "financial justice warrior".

The Swiss-German, who was in his late 70s, died at his home in Hoherhagen, Germany.

A student at MIT in the late 1960s, Lietaer conducted an in-depth study on floating exchange rates. While working in the central banking sector, he was involved with the development of the European Currency Unit, which was a precursor to the Euro.

His innovative ideas about money and how it could be changed to work for people were developed well before the blockchain was invented. He had long seen the potential in decentralized financial systems and how they could tackle issues with fiat currency monopolies.

The Bancor network's focus on liquidity was a big part of what appealed to Lietaer, and what led him to join the Foundation as President as well as Chief Monetary Officer.

Read more: Will Bitcoin replace fiat money?What happens to Bitcoin if the stock market crashes?

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Read more about: Bancor (BNT)


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