Crypto-assets like ‘Einführungs-Einstein’, an asset that has been described as a “digital Einstein”, are being used by people to “hack” debt, according to a report.
The report from The Wall Street Journal has been picked up by CNBC.
According to the report, the “Einstein” token can unlock “billions of dollars” in debt, depending on the degree of leverage and how much the person can borrow.
The paper said that the token could be used for a range of things including buying a home or business, paying off a loan or car loan, and, of course, “spending” it on goods or services.
This would give the owner “a large sum of money to spend on goods and services.”
The value of the “smart” asset is set to rise.
A “digital-Einsteins” token, which was developed in China, has been valued at $17,800.
It was first issued in March 2017, and is expected to reach $30,000 within three years, according the WSJ report.