[2018-03-13] - Bitcoin ‘Not The Answer To Cashless Economy’ Says European Banks'

[maarx]

https://cointelegraph.com/news/bitcoin-not-the-answer-to-cashless-economy-says-european-banks-top-brass

Executives from the European Central Bank (ECB) and Bank of International Settlements (BIS) have said Bitcoin is “not the answer to the cashless economy,” in a statement. 

Writing in a commentary on a BIS report into so-called central bank digital currencies (CBDCs), Benoît Cœuré and Jacqueline Loh added that banks should improve remittance options and not necessarily resort to CBDCs.

Whats you thought on it?

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[Carlton Banks]

BREAKING NEWS: FORMER MONOPOLY TRASH TALKS COMPETITION

[DooMAD]

It might not be their preferred answer, but it's ours and they can't stop us.

And why do they think it's just about remittances?  If at some point a "cashless society" does become the norm, I'm not making all my payments through the surveillance state.  Why should banks get to monitor and record every purchase we make and track our movements?  Not only is it none of their business, they've also never done anything to deserve that much trust and responsibility.  If they think money is going to be used to spy on us and monitor everything we do, they can think again.

[aso118]

Of course banks would have a different view. Their business model is threatened by digital currencies; how could they even harbour the thought that cryptocurrencies may be dominant in a cashless world. In this aspect, governments will align themselves with banks. Their dream state would be a cashless economy, where all transactions can be scrutinized and the government can take away your money through negative interest rates which you cannot avoid.