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Author Topic: [2018-07-23] Central bank digital currencies will reshape competitors  (Read 25 times)
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July 23, 2018, 02:54:27 AM
 #1

Central bank issued digital currencies will not reshape its competitors in the cryptospace. Its competitors, and I would assume they are implying it is bitcoin and altcoins, have reshaped them. So what is there response? A centralized, supervised digital fiat that will neither bring anything new or any disruption.

Maybe they have not yet deeply understood what a real cryptocoin is.



A research on problems with competitors in fintech, commissioned by the European Parliament Committee on Financial and Financial Affairs (ECON), was revealed July 20. It discovered that central bank-issued digital currencies could possibly be a “treatment” for an absence of competitors coverage within the crypto sector:

“The arrival of permissioned cryptocurrencies promoted by banks, even by central banks, will reshape the present competitors degree within the cryptocurrency market, broadening the variety of rivals.”

Personal digital currencies are outlined individually from central bank-issued digital currencies (CBDC), noting that the CBDCs differ by being based mostly on a “typical bilateral settlement with a trusted central celebration.”

In response to the research, since closed cryptocurrency methods require a supervisory authority, central banks could possibly be contemplating utilizing “permissioned cryptocurrency methods” to “complement or substitute” the currencies already used.


Read in full https://maplecoins.org/central-financial-institution-digital-currencies-will-reshape-competitors-in-crypto-market/

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July 23, 2018, 05:25:33 AM
 #2

I highly doubt that cryptocurrencies that are issued by a central
bank will gain any traction.

Why would anyone want to invest in such
a currency when they can buy a cryptocurrency like Bitcoin instead
that has a perfect track record in terms of security and also
has a predictable issuance schedule?





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July 23, 2018, 07:55:59 AM
 #3

And they will know how many who have crypto-currencies and who owns them.  And why do you need it when you can just buy bitcoin.
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July 23, 2018, 08:42:39 PM
 #4

Central banks really don't get Bitcoin. They will try to convince the market that fiat cryptocurrencies are the future and fail. When they do realize that, you can expect a crackdown on cryptocurrencies. Only, cryptos have grown too strong for that right now.


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