Central bank will create their own crypto, why? because many freelancers get their payment in BTC or in other stable crypto and they do not use bank because they charge high fee and take 2 - 3 days credit payment in account. They will create own coin for attract more users and account holders will get benefit from it.
They have two choice adopt BTC or create own coin on blockchain, they should not choose eth blockchain because of high gas fee, developers working on it but Don't know how much time they will take..
Right now BTC getting more hyper and Altcoin taking rest hope wake up soon.
Topic: Will central banks create their own digital currencies? - page 3. (Read 968 times)
Hey everybody,
In the past 11 years since the birth of Bitcoin, cryptocurrencies have gained immense momentum and popularity as they are
decentralized and are rather free from regulation.
As central banks are unable to control the influence and growth of cryptocurrencies, the latest buzz revolves around them wanting
to create their own digital currencies or cryptocurrencies. While some governments are contemplating about it,
others have gone ahead to start working on it.
You can read the full article in our blog: Will central banks create their own digital currencies?
What are your thoughts about the central banks’ digital currencies?
Regards,
Karl
Bitcasino.io
"Will central banks create their own digital currencies?"
Yes, of course they will, there are no options here.
These are not random events, but necessary changes, without which it will be difficult for the world to develop further.
Yes, of course they will, there are no options here.
These are not random events, but necessary changes, without which it will be difficult for the world to develop further.
With the news with citibank citing bitcoin as a 21st century gold then it's no doubt that banks can really see its potential and soon they might consider having their own crypto, it will be a centralised coin that can be used by their users as well by the government. Many governments already have planned to create their own cryptocurrencies and for these to be possible banks maybe needed to run the idea of those countries planning it.
Sooner or later, they will release their national cryptocurrencies.
And then the question will be, do we need Tether?
It seems to me that it will lose its meaning.
Nowadays there are in many economies the correspondings central banks are taking the decision to create their own crypto or digital currency because to bring transparency into the financial system. Some of them like Noth Korea, Switzerland has already created their own digital currency.
Eventually everyone will create their own digital currencies, that is what the path we are on taking us right now. It doesn't mean that we will all be using it, because it could be just governmental or anything specific that would need spesific places to use it and not everyone, but they will have it.
For example, there are talks about some audit companies using blockchain technology to keep track of stuff, that is not a token or a coin that you would need to use, but they use the technology to make it simpler and cheaper for themselves. Same sort of stuff could happen with central banks, they could potentially create digital currencies to make it simpler for themselves to keep track of stuff and make it cheaper and faster as well, doesn't mean they will move away from fiat currencies.
For example, there are talks about some audit companies using blockchain technology to keep track of stuff, that is not a token or a coin that you would need to use, but they use the technology to make it simpler and cheaper for themselves. Same sort of stuff could happen with central banks, they could potentially create digital currencies to make it simpler for themselves to keep track of stuff and make it cheaper and faster as well, doesn't mean they will move away from fiat currencies.
There is a higher chance central banks will consider on creating their own digital currencies. But in order to have a successful run in digital world they also need to consider on supporting established crypto and support form of transactions.
Many institution and community could create their own cryptocurrency but how worth and make investor trust with their own coin, I think individual could easily how to make new coin but marketing is most important how to make investor trusted with our coin and wanna invest more. For bank I think they will not create new coin because they hate with cryptocurrency and not give space for bitcoin and altcoin become his partner, I think government not accepted bitcoin as legal currency payment because have change by bank and their decision make bitcoin and altcoin still become illegal transaction in many countries.
Most likely it will happen, because the ease of the transaction will benefit everyone.
And all transactions can be read by everyone just by looking at the address.
So it will reduce the name of money laundry
And all transactions can be read by everyone just by looking at the address.
So it will reduce the name of money laundry
I read an article in Cointelegrapf where Binance boss believes central bank digital currency could threaten Bitcoin.
What do you think, would it be a threat or could Bitcoin get a boost from it?
Imo, CBDC's aren't going to be a threat whatsoever to Bitcoin, I've said this a couple of times already, it's centralized, while btc is decentralized, CBDC's are going to be controlled and manipulated as well by central banks of it's country, but that scenario isn't possible with Bitcoin. CBDC's are created to focus on boosting the economy of it's country as well as for competition between different countries on which is doing better with the blockchain technology.What do you think, would it be a threat or could Bitcoin get a boost from it?
Having said that, Bitcoin isn't also going to get any "boost" from CBDC's, they are both different forms of digital currency and putting them in the same bracket for comparison, assessment or any other reason whatsoever is wrong.
Perhaps in the future they will create their own. But I think, not or nothing but limited or few will be interested in joining or buying it. Because people are used to the decentralized system where there is freedom and we are all in favor of it. If the central bank creates their own digital currency, it's up for the people if they will to try it or just simply leave it like nothing of it becomes a choice in the market.
Maybe they will, and it so easy for them, but do you think people will interest to join or buy it?? Decentralized system is freedom and we all love it. If the central bank created their own digital currencies, it means that another way for us to be controlled again.
they will not make their money decentralized, if they do then a bank will no longer be useful,
and their actions are useless, there will indeed be some issues about the bank making its own cryptocurrency,
but they are not making it 100% decentralized, but someone controls the supply, and maybe they just make it with blockchain system only.
In our country, there is a certain bank that released its own coin, It is called PHX that UnionBank created. It's a stable coin and it is a bit expected, I don't think banks will make decentralized coins because it can possibly mess up the order they want.
You can check this for more information about that coin: https://www.coindesk.com/philippines-unionbank-launches-stablecoin-conducts-first-blockchain-transaction-by-bank
Maybe they will, and it so easy for them, but do you think people will interest to join or buy it?? Decentralized system is freedom and we all love it. If the central bank created their own digital currencies, it means that another way for us to be controlled again.
they will not make their money decentralized, if they do then a bank will no longer be useful,
and their actions are useless, there will indeed be some issues about the bank making its own cryptocurrency,
but they are not making it 100% decentralized, but someone controls the supply, and maybe they just make it with blockchain system only.
Thanks guys for your comments.
I read an article in Cointelegrapf where Binance boss believes central bank digital currency could threaten Bitcoin.
What do you think, would it be a threat or could Bitcoin get a boost from it?
Regards,
Karl
Bitcasino.io
I read an article in Cointelegrapf where Binance boss believes central bank digital currency could threaten Bitcoin.
What do you think, would it be a threat or could Bitcoin get a boost from it?
Regards,
Karl
Bitcasino.io
I am sure if some central bank will create a digital currency, they will try to make another 300 page article that would describe that. Enough to discourage someone who wants to review the said currency. To be honest I am a bit skeptical with the Central banks purpose of making the said currency if there would be benefits for the common man. If the purpose of the digital currency is to help ease financial burden to people or to teach cryptocurrency to the masses, then I am all for it. Also if the purpose if to promote blockchain technology then I am also for the implementation of the digital currency.
I believe central banks will issue their own digital currencies. Not today. But we can hope one day they will. Actually, they will have to issue digital currencies. Gradually people will divert to digital currencies. Then governments will think to adopt Blockchain Technology. For example, China is testing digital currencies in its cities.
"Will central banks create their own digital currencies?"
Yes, of course they will, there are no options here.
These are not random events, but necessary changes, without which it will be difficult for the world to develop further.
Yes, of course they will, there are no options here.
These are not random events, but necessary changes, without which it will be difficult for the world to develop further.
They will run off a choice because the trend with Bitcoin cannot be stopped despite their hard work to warn and to make stories out of it. Investors are flocking to the market to get their bitcoins. also, there are lots of altcoins being created and you have some Defi platform that still gaining some popularity all over the crypto industry. They need to grab this opportunity by making their own digital currencies and ideas are running out as well they need to have some unique idea on their own.
What are your thoughts about the central banks’ digital currencies?
Cryptocurrencies can do something FIAT can't, and at this point I'm starting to be unsure if the existing decentralization would have been better with the CBCD.
Maybe they will, and it so easy for them, but do you think people will interest to join or buy it?? Decentralized system is freedom and we all love it. If the central bank created their own digital currencies, it means that another way for us to be controlled again.
"Will central banks create their own digital currencies?"
Yes, of course they will, there are no options here.
These are not random events, but necessary changes, without which it will be difficult for the world to develop further.
Yes, of course they will, there are no options here.
These are not random events, but necessary changes, without which it will be difficult for the world to develop further.
With the news with citibank citing bitcoin as a 21st century gold then it's no doubt that banks can really see its potential and soon they might consider having their own crypto, it will be a centralised coin that can be used by their users as well by the government. Many governments already have planned to create their own cryptocurrencies and for these to be possible banks maybe needed to run the idea of those countries planning it.
Hey everybody,
In the past 11 years since the birth of Bitcoin, cryptocurrencies have gained immense momentum and popularity as they are
decentralized and are rather free from regulation.
As central banks are unable to control the influence and growth of cryptocurrencies, the latest buzz revolves around them wanting
to create their own digital currencies or cryptocurrencies. While some governments are contemplating about it,
others have gone ahead to start working on it.
You can read the full article in our blog: Will central banks create their own digital currencies?
What are your thoughts about the central banks’ digital currencies?
Regards,
Karl
Bitcasino.io
I expect in maximum 2-3 more years crypto will be mass adopted and a household, everyday use tech.
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