Do we Need Central Banks?

[cryptoaro]

Yes we need central bank approval for continue this crypto filed as long as alive. when got central bank approval we can invest money in this filed without  afraid. I feel like some day or other day will be received central bank approve.
 

[coinwizard_]

It depends on the trustworthiness of the government to manage the economy. Sometimes the central bank is basically controlled by those in power, while in others it is set by a committee within the central bank. The latter is better to ensure the economy is put first rather than politics. Bitcoin of course has the potential to turn it all upside down.

[Cryptocb]

Thanks God for Crypto industrial, because it has been making life easier in times of any transaction, which is very fast and every Crypto holder are used the token at any time, with out any bank delay. Secondly Crypto has reduced bank stress, which we don't need.

[Direwolve735]

The main tasks of central banks are the development and strengthening of the national banking system, ensuring the stability of the national currency, developing and ensuring the stability of the financial market. Also, central banks are banks of banks, they are the settlement center of the banking system, which provide loans. In the near future, the need for such organs will continue, so they are unlikely to disappear soon.

[Eric Costaa]

Why not, I think the central bank is very necessary for the economy. Its purpose is to stabilize the flow of money, interest rates, credit, banking activities from promoting economic development. It is essential for the economy of every nation

[Wonderced]

yes, do we need central banks because many country have a central banks for that many benefits do we have and we need to claim what our payments or approval, and to stabilize the flow of money to different places.

[Jyominall]

Of course we need it, because any economy across the globe has to maintain strong financial system for economic and social growth. Central banks make financial system which ensure and properly monitor inflation , price stability, social justice and economic growth.

[georgiasus]

Oh sure. All countries have central banks to carry out these tasks. Central banks are autonomous bodies, they work independently and retain the priorities of economic growth. However, I believe that our economic system is gradually coming to an end and it is not perfect. People need something new and kriptovalyuta, again, one of the fresh solutions.

[Legendari]

Yes, this is true and the devil is obvious. Earlier, when people did not have where to keep money, banks were very necessary, but now when banks are ruined every day and establish their monopoly on the market, they need to be disposed of.

[Nikola95]

There is need for central banks in this system. Major function of central bank is to issue money, and to control volume of money in system. How could those smaller banks do that, without central bank ? Who would control them ? There would be inflation immediately, because this fiat is only paper..

[TiffanyYoung94]

When exchanges take place in the p2p mode, creating a central bank isn't necessary.

[Theo222]

for me yes we need central banks to boost the legitimacy of that coin because central bank is well known all over the world. even small kid and elders knows this bank that why when this bank makes a big move about cryptocurrency i think it will boost the price of every coin because the demand will increase rapidly.

[Sathya12]

i think every country need central bank.

[mr.nby]

yes, do we need central banks because many country have a central banks for that many benefits do we have and we need to claim what our payments or approval, and to stabilize the flow of money to different places.

The traditional financial system is structured so that it is dependent on the banking system. For the proper operation of this system, a central bank is necessary which controls the entire system, thus preventing abuse.

[vgk88]

I think that for fiat currencies you need a central bank. For cryptocurrencies the central bank is not needed. This will make the crypto-currencies less decentralized.

[HeXecutor]

No, we do not need banks ... this is the embodiment of evil =)
If the crypto currencies become more popular and eventually pushed out modern paper money, the banks will disappear altogether ... and I see nothing bad, only pluses. Money will become decentralized ... I do not understand who can take it that it's bad. Is that the government and groats businessmen. However, for the common people this is a much more profitable alignment of events.

[tee-rex]

In my simple opinions says they are existing they are needed, because if we would not need them most obviously they would not exist. Probably cryptocurrency will be a threat for the existence of Central Banks.

Indeed, the central bank is necessary but not necessarily "if not needed, the central bank will not exist." The use of currency trading, accumulation, borrowing, debt repayment ... through the central bank also has its own advantages and role in comparison to electronic money. Electronic money will grow but not necessarily threaten the survival of the central bank.

Do you mean cryptocurrencies by "electronic money"? Most of money nowadays exists in digital form, electronic or otherwise, and fiat, i.e. money issued by a central bank, is no exception to this rule. In fact, governments are trying everything to make people switch to cashless transactions as the latter are more traceable unlike paper money and coins. Basically, the major difference between cryptocurrencies and modern fiat lies only in the method of creating new money (technically, you could use the blockchain technology for fiat too), but both of these forms of money are digital money anyway.

[Wobweb038]

we do require national banks for the control of the national money. furthermore, if the day comes that bitcoin will supplant the fiat cash, and everything is decentralized, these national banks will presumably be out of date.

[Supremacy1]

We don't need for bitcoin . It will defeat its decentralized nature , central bank is centralized and have it's own inefficiencies , like lack of trust, hacking of central server among others

[carlou]

As of now, I say yes we need the central banks how could we run our economy or the financial standpoint of a country without the central banks.