Topic: Stablecoins or CBDCs? - page 6. (Read 867 times)
People will continue to use stablecoins because there is at least the perception of some kind of privacy. You can self custody & control your own funds. CBDC’s are a horrible creation, the government/bank can freeze your accounts at any one point. I will avoid CBDC’s as best as I can.
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What do you think the future of stablecoins will look like after CBDCs are launched? Will they die in the end or will they co-exist with CBDCs? Your input will be greatly appreciated. Thanks.
One thing for sure is that CBDC will not be able to compete with stable coins...What do you think the future of stablecoins will look like after CBDCs are launched? Will they die in the end or will they co-exist with CBDCs? Your input will be greatly appreciated. Thanks.
the current majority of stable coins like USDT and BUSD are backed up by other crypto assets such as BUSD which is backed up by binance and engages the crypto community, while CBDC is an asset that is backed up by the government but doesn't want to involve the crypto community (in fact their goal of creating it is to fight currency existing cryptocurrency), even though the government is free to issue regulations, people believe in stable coins more than CBDC.
Can't just governments back stablecoins themselves and avoid all of the hassle of creating new digital Fiat currencies from scratch?
The existing ones? No, they will not, they have their own local currency. CBDC is pegged on their local currencies, most existing stablecoins are pegged on USD with the fund backed by the companies behind. So how can they back it.Most probably this CBDC will not be tradable on any cryptocurrency exchanges like the existing ones, it will only be used as a tender or can be traded on specific platforms only.
If the regulators will be making CBDC will be available to all of parties just like the fiat money and im sure that the trend of stable token will be eaten by CNDC. This caused by the regulators give more guarantee rather than company who issued the stable token that have not yet fully audited. That's pretty interesting to see that about how this will be going on.
Im waiting for the CBDC will be launched by some big countries and this will become a serious competitor for the stable token although stable tokens already dominated the cryptocurrency.
Im waiting for the CBDC will be launched by some big countries and this will become a serious competitor for the stable token although stable tokens already dominated the cryptocurrency.
if CBDC launched i will use it especially if launch in my country but the current stablecoin wont go away in my opinion. CBDC launch by government so is less wory but like other said that highly regulated and maybe only happen in single country like china right know i mean is only on government private chain
Why can't governments back stablecoins instead? Obviously because it is unimaginable for governments to forget about their issued currency in favor of a currency issued by a private company. That will never happen. I don't think any government for that matter will simply accept a subservient role to private individuals issuing centralized currencies of which they have full control.
I think the stablecoins' role will be greatly reduced as soon as CBDCs become a thing. But I don't think they will be totally erased out of existence. Exchanges for example would have a hard time offering fiat services to their clients, so they might still prefer stablecoins.
I think the stablecoins' role will be greatly reduced as soon as CBDCs become a thing. But I don't think they will be totally erased out of existence. Exchanges for example would have a hard time offering fiat services to their clients, so they might still prefer stablecoins.
I think that they will coexist.
Personally, CBDCs aren't going to be used on a day-to-day basis for most international or online transactions simply because of the fact that it is traceable and the government is likely going to have control over the ledger.
There is still going to be a need for stablecoins, especially algorithmic ones, to ensure that governmental pressures do not result in loss of funds. Although for centralised stablecoins this is going to be increasingly difficult anyway.
Personally, CBDCs aren't going to be used on a day-to-day basis for most international or online transactions simply because of the fact that it is traceable and the government is likely going to have control over the ledger.
There is still going to be a need for stablecoins, especially algorithmic ones, to ensure that governmental pressures do not result in loss of funds. Although for centralised stablecoins this is going to be increasingly difficult anyway.
What do you think the future of stablecoins will look like after CBDCs are launched? Will they die in the end or will they co-exist with CBDCs? Your input will be greatly appreciated. Thanks.
I don't know what people think, but I feel with the advent of CBDC we will enter a market with wider acceptance in many countries. And it will not affect stablecoins too much. When things are not clear, I think we can hardly appreciate their true nature. CBDC is a term I've been hearing since about 2017, but maybe we're getting closer to understanding it. 
What do you think the future of stablecoins will look like after CBDCs are launched? Will they die in the end or will they co-exist with CBDCs? Your input will be greatly appreciated. Thanks.
A very strict competition will be happening. People have more choice to pick which was stable token that will be used by them whether it would be CBDC or stable token issued by a company like tether. It's just the matter of time until there will be a very strict regulation about who can use CBDC and let's see how CBDC will be integrated with the crypto community.
The implementation of CBDC is still so far to be real just like when you are seeing if china CBDC is not yet used for the digital purpose like crypto.
The regulation may strict CBDC
They can't back the current stable coins because they have no power over it. They don't control it so that means to them that they have to rely on the central authority of whoever is behind that stable coins.
That's one major reason why they have been making these cbdcs and since they've got a powerful back up which is the government, that's how it should go.
Well if there's a choice, personally, I'll head over the decentralized stable coins.
That's one major reason why they have been making these cbdcs and since they've got a powerful back up which is the government, that's how it should go.
Well if there's a choice, personally, I'll head over the decentralized stable coins.
With the advent of Tether (USDT), the stablecoin industry has advanced at a very fast pace. There are now many stablecoins on the market aiming to bring the stability of traditional Fiat currencies with the security and reliability of crypto/Blockchain tech. Traders can use stablecoins as an alternative to existing Fiat without having to cash out directly to a bank. To say the least, stablecoins are the new digital Fiat system where companies hold all of the power (instead of the government). Yet, central banks have announced their intentions to launch CBDCs (Central Bank Digital Currencies) of their own. If stablecoins are already proven to be successful, why re-invent the wheel with the launch of a new government-backed digital currency? Can't just governments back stablecoins themselves and avoid all of the hassle of creating new digital Fiat currencies from scratch?
What do you think the future of stablecoins will look like after CBDCs are launched? Will they die in the end or will they co-exist with CBDCs? Your input will be greatly appreciated. Thanks.
What do you think the future of stablecoins will look like after CBDCs are launched? Will they die in the end or will they co-exist with CBDCs? Your input will be greatly appreciated. Thanks.
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