What’s our stand on cryptocurrencies?

WHAT is the Bank of Papua New Guinea’s policy on cryptocurrency like Bitcoin?
It is a mere e-commerce marketing gimmick that tries to replace national currencies and precious metal like gold by creating just a limited edition of coin to trade on a speculative basis by using elements of direct marketing scheme?
Unless Bitcoin is 99 per cent pure gold, it has no real value to redeem its real cash value upon demand at a prevailing market price.
After about five years of global hype about cryptocurrencies , investors are now sceptical about it.
I see a possibility in the near future for all nations to reach an agreement to create a new universal global currency under the United Nations charter .
It will come about when countries are required to make a 10 tonne of gold membership deposit to the vault of a new global central bank to manage such a universal currency.
A currency without hard liquid cash or gold bullion equivalent backup is simply a fake currency and cannot be easily convertible in a financial crises situation.

GS
Observer NCD