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Topic: Central Banks Intend To Fight CryptoCurrencies - page 2. (Read 1094 times)

sr. member
Activity: 462
Merit: 250
Too few enthusiasts who want to use the digital money created by the central bank, because there is no freedom there.
Let it be if they want to try it, is not it better to develop a technology that is far more useful than following the crypto era.
Because the crypto world is a world of freedom.
member
Activity: 84
Merit: 10
Banks aren't really fighting cryptocurrencies. If they're improving their services then great but so far they haven't proven to move very fast
hero member
Activity: 994
Merit: 544
Being a cryptocurrency or a virtual currency does not mean decentralization. The only coin that is decentralized is bitcoin while the latter the altcoins were centralized. If banks will create their own digital currencies then it would imply a central agency to ensure regulations and stability will be met. There will be no volatility and there will be no printing of too much money just like what the federal reserves is doing according to some reports.
legendary
Activity: 4214
Merit: 4458
old news

research: hyperledger
full member
Activity: 145
Merit: 100
🌟 eSports ICO: 01/11/2017 🌟
Yes, banks do not benefit from such competition, because they are used to controlling everything and getting benefits.
sr. member
Activity: 686
Merit: 251
I'm investigating Crypto Projects
Nothing good has ever come or will ever come from central banks. Only thing they like is control the only thing they hate is freedom for us! So yes, they will one day try to crush us!
sr. member
Activity: 742
Merit: 397
What do you mean by will it became decentralized?you mean the central bank and fiat currencies being decentralized?thats impossible i think because its under the government and it needs regulations
AGD
legendary
Activity: 2069
Merit: 1164
Keeper of the Private Key
Things becoming more and more serious... but  Roll Eyes
what will be the features of a Crypto-Euro or the Crypto-Ruble?

It will not be decentralized. or will it?  Undecided lol
Will there be an open ledger?? People really want this? I mean the Banksters want this?  Huh
Will this coin be kind of a POS coin or Huh Nahh! Don't tell me I can mine this coin with my Laptop? Cheesy
Wow! They will open source their code?Huh? What? GTFOH! They'll never do that!  Tongue

One thing this currency must have: SPEED!!! (Check the bold part in the text below)

Hmmmm, I think this currency will have nothing to do with Bitcoin, but hey, let them learn it the hard way, folks....

Discuss.

http://www.zerohedge.com/news/2017-06-22/how-central-banks-intend-fight-cryptocurrencies

Quote
Dr. Weidman dismisses the notion that privately issued digital currencies may eliminate central bank currencies, reasoning that “central banks are better able to deliver price stability than a rigid monetary rule or an algorithm.”

Therefore, one consideration might be that the central banks themselves would issue their own digital currencies- something that the central banks of Russia and China are considering. If central banks created digital currencies it would make those holding their liquid assets in the form of central bank digital currencies, the public would have greater protection because “central banks cannot become insolvent.”

Dr. Weidman notes that in times of crisis, money holders would withdraw their bank deposits and transfer them into the official digital currency, thereby rapidly withdrawing liquidity from the private banking sector in a digital bank run.

Without deposits, Dr. Weidman observes, banks could not make loans.

Weidman’s Conclusion

My personal take on this is that central banks should strive to make existing payment systems more efficient and still faster than they already are – instant payment is the buzzword here. I am pretty confident that this will reduce most citizens’ interest in digital currencies.

Check the ECB paper "Virtual currency schemes –  a further analysis" here:
https://www.ecb.europa.eu/pub/pdf/other/virtualcurrencyschemesen.pdf



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