by TitanKenneth » March 11th, 2021, 9:36 am
Attempts and statements about the creation of a national cryptocurrency (CBDC) are made by representatives of different countries. Some are trying to stimulate the poorest economies, such as the disastrous story with Venezuela’s national cryptocurrency ElPetro. Strong economies such as China have other motives, like to overthrow the US dollar from its pedestal of the world’s means of payment. Will digital world currencies destroy the banking system, will their issuance affect the rate of bitcoin and altcoins?
Nevertheless, national digital currencies can hardly be called full-fledged cryptocurrencies in the near future. Since they are not decentralized, the emission of national cryptocurrencies will be controlled by central banks and regulators.
SOURCE: https://guardian.ng/business-services/c ... 6267765287
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Attempts and statements about the creation of a national cryptocurrency (CBDC) are made by representatives of different countries. Some are trying to stimulate the poorest economies, such as the disastrous story with Venezuela’s national cryptocurrency ElPetro. Strong economies such as China have other motives, like to overthrow the US dollar from its pedestal of the world’s means of payment. Will digital world currencies destroy the banking system, will their issuance affect the rate of bitcoin and altcoins?
Nevertheless, national digital currencies can hardly be called full-fledged cryptocurrencies in the near future. Since they are not decentralized, the emission of national cryptocurrencies will be controlled by central banks and regulators.
SOURCE: https://guardian.ng/business-services/capital-market/what-will-be-the-result-of-the-top-5-national-cryptocurrencies-roll-out-in-the-world/?_e_pi_=7%2CPAGE_ID10%2C6267765287