Unlimited Supply?
Funny..
Topic: [2014-08-30] Ecuador heralds digital currency plans (Read 901 times)
State and cryptocurrency - sounds funny. Significance of this phenomenon is completely unclear. Any State, and so can produce its own currency without regard blockchain technology.
Quote
Ecuador is planning to create what it calls the world's first digital currency issued by a central bank
All currencies today are digital currencies.
Ecuador heralds digital currency plans
Nathalie Reinelt, an emerging payments analyst with the U.S.-based Aite Group, said she does not understand any other motivation for creating such a currency than to allow Ecuador to increase its money supply and, essentially, devalue its U.S. dollar holdings.
"It is far too early to know how they are thinking of making the electronic money work," said analyst Juan Lorenzo Maldonado of Credit Suisse LLC.
...
His government has tripled social spending, and opposition lawmaker Ramiro Aguilar says it "has a serious fiscal liquidity problem. It needs money ... It doesn't mint money. It has no control over what circulates."
http://phys.org/news/2014-08-ecuador-heralds-digital-currency.html
where is my popcorn ?
Nathalie Reinelt, an emerging payments analyst with the U.S.-based Aite Group, said she does not understand any other motivation for creating such a currency than to allow Ecuador to increase its money supply and, essentially, devalue its U.S. dollar holdings.
"It is far too early to know how they are thinking of making the electronic money work," said analyst Juan Lorenzo Maldonado of Credit Suisse LLC.
...
His government has tripled social spending, and opposition lawmaker Ramiro Aguilar says it "has a serious fiscal liquidity problem. It needs money ... It doesn't mint money. It has no control over what circulates."
http://phys.org/news/2014-08-ecuador-heralds-digital-currency.html
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