Central Banks in the Age of Blockchains - page 2.

Beerwizzard

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Quote from: bitbunnny on May 03, 2019, 01:56:37 PM

Quote from: Beerwizzard on May 03, 2019, 01:13:20 PM

Central banks are regulating monetary supply in their countries. They are printing new money not because they are so dumb and they inflating their currencies but because they need to boost growth of their economy. There is absolutely no gap between economy and technology of blockchain. They are just operating in different fields and central banks don't really care about it.

I can agree with the first part of your explanation and yes, central banks are there to care about monetary stability and support the conditions for stable economy.
But I don't agree that they don't care about blockchain. They are also very well aware of future and developing technologies, they can't escape that. But they are obliged to a lot if law regulations and therefore more cautious. But cryptocurrencies will not endanger them because they will adjust.

Surely they can implement blockchain into their activities, but it would be something like a cyber security blockchain project or some blockchain database. It is good but it is not a groundbreaking change that would change the way central banks and global economy work. Everything would remain the same but someone would be able to cut some costs with a help of blockchain.

bitbunnny

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Quote from: Beerwizzard on May 03, 2019, 01:13:20 PM

Central banks are regulating monetary supply in their countries. They are printing new money not because they are so dumb and they inflating their currencies but because they need to boost growth of their economy. There is absolutely no gap between economy and technology of blockchain. They are just operating in different fields and central banks don't really care about it.

I can agree with the first part of your explanation and yes, central banks are there to care about monetary stability and support the conditions for stable economy.
But I don't agree that they don't care about blockchain. They are also very well aware of future and developing technologies, they can't escape that. But they are obliged to a lot if law regulations and therefore more cautious. But cryptocurrencies will not endanger them because they will adjust.

Beerwizzard

full member

Activity: 924

Merit: 148

Central banks are regulating monetary supply in their countries. They are printing new money not because they are so dumb and they inflating their currencies but because they need to boost growth of their economy. There is absolutely no gap between economy and technology of blockchain. They are just operating in different fields and central banks don't really care about it.

carter34

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Asking for the implication, I think that one simple implication is that it is likely to increase the bitcoin awareness. Such is because, people's confidence will increase since the banks and IMF have started understudying the blockchain tech. I think that it will show in the movement of price.

Awesomus Maximus

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Yep, the central banks, the IMF included, won't survive if cryptocurrencies, in their original form and idea spread around the world. So they have to do something now, while it is still not so dangerous. And first thing to do is to learn about the technology behind. Learn about your enemy so that you can defeat it. Other than that I see no purpose to their centralized Learning Coin. On second thought if they want to learn, what's keeping them to buy some bitcoins and join this forum. Best way by far.

Haunebu

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A thread regarding this topic was created recently and many posters have already responded there including me. Check this link:

https://bitcointalksearch.org/topic/m.50854631

Everyone need to understand they are interested in the tech behind Bitcoin(Not BTC itself) in order to create their own centralized coin probably.

l3jmr

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This week, the Financial Times reported that the IMF, (International Monetary Fund) and the World Bank, are launching a “Learning Coin” on a private blockchain to gain a better understanding of how blockchains work.

In a statement, the IMF said:

“The development of crypto-assets and distributed ledger technology is evolving rapidly, as is the amount of information (both neutral and vested) surrounding it. This is forcing central banks, regulators and financial institutions to recognise a growing knowledge gap between the legislators, policymakers, economists and the technology. This project begins to bridge that gap and form a strong knowledge base of the technology among IMF and World Bank staff.”

what do you think will be the implications?

https://www.altcoinsidekick.com/blog/chain-reaction

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