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Title: Europe's Central Bank Touts Crypto As Underbanked Aid -- Never heard of Stellar? Post by: JuniAiko on March 15, 2018, 03:13:37 AM https://www.coindesk.com/europes-central-bank-touts-crypto-as-underbanked-aid/
Quote The European Central Bank (ECB) has said cryptocurrencies could "be an early sign of change" around the world. In an opinion piece on Tuesday titled "Bitcoin is not the answer to a cashless society," ECB executive board member Benoit Coeure and Bank of International Settlements Markets Committee chair Jacqueline Loh write that, while digital money may be the way of the future, existing public cryptocurrencies like bitcoin are not that future. Rather, the pair tout the potential of central bank digital currencies (CBDCs) in changing the way consumers have control of their money. Still, the piece acknowledged that cryptocurrencies are addressing an important shortfall in current banking systems, noting, "Despite its many faults, bitcoin has put the spotlight on an old failing of our current system: cross-border retail payments." Way too much focus by the media and government on Bitcoin, thinking that its outdated technology is all that there is to offer already in the market. There is NO way any centralised corruptible profit-driven entity (be it the central banks, governments, or Ripple Corp.) could offer a superior banking alternative for the underbanked. Title: Re: Europe's Central Bank Touts Crypto As Underbanked Aid -- Never heard of Stellar? Post by: JuniAiko on March 15, 2018, 12:44:59 PM Stellar (a non-profit organisation to develop the network) and its coin, the XLM, is already making impressive progress, being adopted in 3rd world countries by the people and small businesses and even partnerships with small banks in developing and third world countries.
And as for quick payment processes, there is already Nano (ex. RaiBlocks), which offers potentially instantaneous transaction plus zero fees. Title: Re: Europe's Central Bank Touts Crypto As Underbanked Aid -- Never heard of Stellar? Post by: Hydrogen on March 15, 2018, 06:06:47 PM I don't know whether you watch the news but mexico recently granted banks regulatory power over crypto markets. In practice, this gives banks the power to control which altcoins exchanges are allowed to buy or sell, with exchanges being given a 1 year term to comply with whatever standards banks choose to implement. I hate to be negative or a downer but if banks are given regulatory power over crypto mexico's example could be implemented on a larger scale. :-\
Also stellar sounds great! |