Topic: Central Bank of Crypto-Currency (Read 2530 times)
many banks have adopted the blockchain because they know the advantages that the blockchain has for banks. they will then use crypto for their business hand in hand with fiat or replace it
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..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
I think banks and crypto are totally different and there is no way to merge them. One thing is for sure, if banks tries to merge crypto, eventually it will be the end of banks and fiat itself. So i don't see any such possibility in the near future.
Cryptocurrency nowadays are not only designed to be decentralised, as the central government mixed in the space slowly they will adopt the system to control its people. In coming years well be seeing a lot of public and private assets being tokenized from real estate, banks and oils will become common in our society.
You are probably right. If we look through history of money transaction and on this i mean everything from barter to buying. We started with cows and sheeps as payment, then we create cooper and silver coins, then we had paper money, plastic money (cards) and we have bitcoin now with variety of other cryptos. So if someday bitcoin becomes globally used currency on this I mean that you/me or she comes to regular store and buy something like candy for kids and pays with bitcoin then I can say that we can discuss about central bank for crypto asset.
I hope that time we are still alive so we will enjoy what will happen in the future, we will be very proud then that we are one of the early investors
who supported the technology that will be massively adopted in the future.
Cryptocurrency nowadays are not only designed to be decentralised, as the central government mixed in the space slowly they will adopt the system to control its people. In coming years well be seeing a lot of public and private assets being tokenized from real estate, banks and oils will become common in our society.
You are probably right. If we look through history of money transaction and on this i mean everything from barter to buying. We started with cows and sheeps as payment, then we create cooper and silver coins, then we had paper money, plastic money (cards) and we have bitcoin now with variety of other cryptos. So if someday bitcoin becomes globally used currency on this I mean that you/me or she comes to regular store and buy something like candy for kids and pays with bitcoin then I can say that we can discuss about central bank for crypto asset.
I hope that time we are still alive so we will enjoy what will happen in the future, we will be very proud then that we are one of the early investors
who supported the technology that will be massively adopted in the future.
To talk about the need for a central bank cryptocurrency, you need to understand why it is necessary? What is a bank? Why do they give up? A bank is a credit and financial organization that offers the safety of your funds, gives you loans, conducts financial transactions for you and much more. But now let us remember about the most important advantage of cryptocurrency - transparency, independence and decentralization. Why create a cryptocurrency bank and thereby create an intermediary who will have to pay commissions and interest ?!
Cryptocurrency nowadays are not only designed to be decentralised, as the central government mixed in the space slowly they will adopt the system to control its people. In coming years well be seeing a lot of public and private assets being tokenized from real estate, banks and oils will become common in our society.
You are probably right. If we look through history of money transaction and on this i mean everything from barter to buying. We started with cows and sheeps as payment, then we create cooper and silver coins, then we had paper money, plastic money (cards) and we have bitcoin now with variety of other cryptos. So if someday bitcoin becomes globally used currency on this I mean that you/me or she comes to regular store and buy something like candy for kids and pays with bitcoin then I can say that we can discuss about central bank for crypto asset.
Cryptocurrency nowadays are not only designed to be decentralised, as the central government mixed in the space slowly they will adopt the system to control its people. In coming years well be seeing a lot of public and private assets being tokenized from real estate, banks and oils will become common in our society.
How about Central Bank of DNA or Central Bank of Solar energy? Doesn't make sense right?
DNA is as decentralized as cryptocurrrency...every cell in our body has its own copy. Centralizing it makes makes no sense.
Centralizing solar energy makes no sense either except they'd build some kind of Artificial Global clouds that they can turn opaque or transparent whenever they want.
Better they call it digital fiat currency instead of Central Bank cryptocurrrency
DNA is as decentralized as cryptocurrrency...every cell in our body has its own copy. Centralizing it makes makes no sense.
Centralizing solar energy makes no sense either except they'd build some kind of Artificial Global clouds that they can turn opaque or transparent whenever they want.
Better they call it digital fiat currency instead of Central Bank cryptocurrrency
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.
No bank is needed for digital currency. Wallets like coinbase are already acting as a bank for the digital currency. Now they also have a vast range of altcoins listed at coinbase making people to store their coins at coinbase and not on exchanges. With all these developments there is no need for a tradional bank for bitcoins. 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
I do not see the need to create a central bank cryptocurrency. If this is a bank for cryptocurrency exchange, then we have for this purpose exchangers and exchanges. States can create and will create their own centralized cryptocurrencies. It will practically be the same national money, only in digital form. They can play a certain positive role for decentralized cryptocurrency, because they attract general attention to them. 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
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.
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.
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.
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
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?
Why have miners and decentralization then if a central entity will manage things?
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
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
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. 
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.
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.. 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
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.
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