Central Bank of Crypto-Currency

[D3F4L7 RAT]

I think its too unnecessary to have a physical bank for cryptocurrencies. It is made to ba transparent hence an organization or a group of person must not only handle the central bank for cryptos because it is a risk to theft and scam. Although a government controling the cryptos in its country, we must still think that even huge part of our taxes goes to them in their "projects" that ends being a scam.

[Harrisonimo]

The central bank of cryptocurrency for countries is a welcome idea but it will take time really for the developing nations to have this setup in their country as other modalities have to be fully in place to sustain its operations. so, I don't see it happening any time soon in some African countries despite their high involvement in cryptocurrency.

[cryptodv]

Central bank does not equal decentralization. That's why I like ($XHV) Haven Protocol, you'll be your own bank. Wait till offshoring is implemented. It's a big game changer.

[prtty2gal2]

the central bank might issue their own crypto currency, using blockchain technology. However, the central bank's crypto currency will certainly be different from the crypto currency that currently exists. Because the crypto currency released by the central bank will still have assets that are the basis of the transaction. and the pattern of calculating the circulation of crypto currencies will be adjusted as well as circulation of state money. decentralized, anonymous, and some of the characters of bitcoin as cryptocurrencies may be lost with the central bank. because the state is always present to be able to control and they will not risk something they cannot control. it is inversely proportional to the creation of bitcoin

This goes against everything bitcoin stands for. We can't have a "central" anything in bitcoin, if you ask me even bitcoin foundation is not needed for us and should be disbanded. There is nothing that could make me think any centralized thing could help bitcoin in  any sort of way.

A bank is the reason why I am involved in bitcoin and crypto so if banks get too popular among bitcoin I will certainly move to another coin and never used bitcoin again.

I do not want banks to be part of my life and it doesn't matter how "different" crypto banks will be it will still be a bank and I do not want to be a part of that. Decentralized is the reason why I am using bitcoin and will continue to do so until it becomes some sort of Ripple like coin with centralized ownership.

[stellgod]

In the world of cryptocurrency, a bank is not needed because the creation of a special cryptocurrency bank will open opportunities for criminals who take advantage of the existence of the bank to make profits in an unauthorized manner such as fraud and others.

Well banks are not against bitcoin. They only don’t let the policy of bitcoin to be implemented in their current system. It is like a contradiction between bitcoin nature and banks policies. So yes, when government will regularize bitcoin in a country and provide a central banking system for bitcoin so definitely they will adopt just right to nature of bitcoin.

[posi]

In the world of cryptocurrency, a bank is not needed because the creation of a special cryptocurrency bank will open opportunities for criminals who take advantage of the existence of the bank to make profits in an unauthorized manner such as fraud and others.

Well banks are not against bitcoin. They only don’t let the policy of bitcoin to be implemented in their current system. It is like a contradiction between bitcoin nature and banks policies. So yes, when government will regularize bitcoin in a country and provide a central banking system for bitcoin so definitely they will adopt just right to nature of bitcoin.

You're totally wrong because the banking sector are against bitcoin and I want you to know that the banks are behind the reason bitcoin was ban in some country like India due to the statement made by their central bank. However, I dont see any reason why we need the creation of a special cryptocurrency bank or central bank of crypto.

[Usafstar]

It is good if a central bank has to established for crypto control and in this way we can say that bitcoin will be stabilize by them and crypto currencies are very good if it create a trust for the public and with this many projects and businesses can be operate through this way while it will make some policies and it will be a kind of guarantee for the crypto world.

[patarfweefwee]

I don't know if that is a good idea. I mean we are all against ilthe institutionalization of currencies that we are practically doing the same with the currency we are pushing to be decentralized and free from sny single control. A bank where we can store our accesses is good but to put my coins in it? I don't think so.

[ufaiz50]

In my opinion it's good news, where a government makes bank central of crypto that's same to adopt blockchain. the one that is very worried is that country banning cryptocurrency so if in logic they only want to develop a bank from crypto but do not allow cryptocurrency like bitcoin and altcoins to enter the government. Some say that if their project is successful then the prohibitor on the cryptocurrency will be revoked but there is no confirmation.

[BigBos]

In my opinion it's good news, where a government makes bank central of crypto that's same to adopt blockchain. the one that is very worried is that country banning cryptocurrency so if in logic they only want to develop a bank from crypto but do not allow cryptocurrency like bitcoin and altcoins to enter the government. Some say that if their project is successful then the prohibitor on the cryptocurrency will be revoked but there is no confirmation.

it's indeed pretty good, but until now, it seems like there hasn't been a real development of this. well, most bank developments for cryptocurrency only occur on the internet. however, I just hope the development can be faster.

[Ponti]

I see it as a international project. But first, blockchain projects and cryptocurrency has to go through a series of global regulations. Certain frameworks have to be implied for financial institutions working with crypto. Only then we can speak about world committee that will form global central bank of crypto.

[therwtonn]

Creating a Central Bank of Crypto-currency may no longer sound ridiculous as we are now having a number of countries coming up with some sort of mass application of the technology, the latest is from India, which reportedly ban cryptos, but recent report states that they are considering having a Bank of crypto, Ruppies-backed, Central bank digital currencies CDDC.
Are these really positive news for the crypto-market?

https://cointelegraph.com/news/reserve-bank-of-india-confirms-it-is-looking-into-making-a-central-bank-digital-currency

What you just said is not an enough reason for anyone to be talking about central bank of cryptocurrency. And by the way, what the heck is central bank of cryptocurrency? Why do we even need bank for cryptocurrency, wallets can already do the jobs. Cryptocurrency wasn’t meant to be kept in the bank, its for you to keep it by yourself. Cryptocurrency puts people in charge of their money, you save it yourself and you use it anyway you like..

[Transformbitz]

This is a revolutionary money that are made for people and not control by government. Central Authority or Central Banks controls the monetary supply of money, But in cryptocurrency they don't have power to control any transactions that has been created.

[0t3p0t]

Well for one, I see India blocking the growth of other cryptos because they want theirs to be used mainly by their citizens before allowing the growth of other cryptos. Knowing that India is a place wherein technology isn't really an unknown thing, citizens would have the means to acquire other crypto if they like, so in order to preven this and divert the focus towards their own crypto, they banned bitcoin alongside any other cryptocurrencies. In time, once the state-issued crypto are in circulation and is successful, India will surely lift the ban.

Correct. Same with China, India is blocking other crypto just to give way for the state owned cryptocurrency so that the investors, enthusiasts and the cryptocommunity has left no choice but to adopt the centralized asset which is controlled by the government. This move sucks and I am lucky enough as I am living in a cryptocurrency friendly country. I do hope that governments will be allowing other decentralized crypto just like Bitcoin to their country.

[efxtrader]

Creating a Central Bank of Crypto-currency may no longer sound ridiculous as we are now having a number of countries coming up with some sort of mass application of the technology, the latest is from India, which reportedly ban cryptos, but recent report states that they are considering having a Bank of crypto, Ruppies-backed, Central bank digital currencies CDDC.
Are these really positive news for the crypto-market?

https://cointelegraph.com/news/reserve-bank-of-india-confirms-it-is-looking-into-making-a-central-bank-digital-currency

If there is central bank for digital currency or cryptocurrency, i think crypto will not different with fiat money. The different thing between crypto and fiat money is on who controlling the supply, crypto already known as limited in supply and if crypto central bank created, i think they will control the supply

[jjjfff]

Creating a central bank would defeat the purpose of cryptos. It's nonsensical to develop the world's most technologically advanced decentralized cash solution only to centralize it!

Why have miners and decentralization then if a central entity will manage things?

[yusupjatigumilar]

in my opinion this is just plain news, because this news has often emerged from several media not the first time there are countries that make crypto currency banks and the impact is not too significant on the price of crypto currencies, but that is a good thing slowly but surely many countries will legalize crypto currencies and create crypto banks respectively

[kasansa]

Even though my article in this topic seems late but I should and must suggest my  view and express that bitcoin cryptocurrency have to open a bank of its own bank why to beg the support of every country and their banks, if this come will shine the cryptocurrency and bitcoin to lead worldwide like the other currencies do.

[KennyR]

Being decentralized is the key success for Cryptocurrency. A central banking could help the widening of cryptocurrency community around the globe. Because, to use cryptocurrency knowledge is a must. With banks people can be taught about it and the same can serve as a service center rather than a banking space.

[Ziskinberg]

Being decentralized is the key success for Cryptocurrency. A central banking could help the widening of cryptocurrency community around the globe. Because, to use cryptocurrency knowledge is a must. With banks people can be taught about it and the same can serve as a service center rather than a banking space.

What I know about crypto is we do banking even without bank.
The currently existing exchanges are our banks, they facilitate the transactions to different banks and we do not need to have a bank connection throughout the process, our only connection is with exchanges and so far, it's been working effectively.

Bank only control us the moment we allow them, with their KYC and lots of additional requirements, it does not feel safe at all.