The Only Potential Benefit Of Central Bank Digital Currencies: Bitcoin Adoption
Central Bank Digital Currencies are a dystopian implementation of money and will only benefit society by encouraging people to adopt bitcoin.This is an opinion editorial by Pierre Gildenhuys, the co-founder of a Hong Kong based social environment tech startup.Central bank digital currencies (CBDCs) are being actively developed and discussed in many major nations in the world including 19 of the G20 countries, and around 105 others worldwide, as shown by Atlantic Council statistics in 2022. They are being advanced rapidly and it is expected that some nations such as Australia, South Korea....
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The European Central Bank has released a new report on digital currency, describing it as "inherently unstable" but potentially transformative in the realm of payments. The ECB study builds off an earlier study published in 2012, offering both a general overview of digital currencies as well as follow-up analysis on the potential benefits and risk of using so-called virtual currency schemes (VCS). The central bank, which oversees national-level central banks in the eurozone, suggested in the report that digital currencies could impact the ECB's ability to function. However, it stopped....
Countries might benefit from issuing central bank digital currencies, but they’re not a panacea for every ailment, a new IMF report says.
In this episode of Fed Watch, the hosts discuss the potential for a digital euro, central bank digital currencies and the "financial hurricane" that is ongoing The post Video: Digital Euro, Central Bank Digital Currencies And Bitcoin appeared first on Bitcoin Magazine.
According to Christine Lagarde, the head of the European Central Bank, at least 80 central banks around the world are looking at CBDC adoption. 80 Central Banks To Adopt CBDC “We think that it’s a duty of us to actually have available digital currencies that would operate to the benefit of consumers,” Lagarde said at […]
The Bank of Canada has issued new statements on bitcoin and digital currencies as part of its annual spring review. Perhaps most notably, the central bank speculated that the stability of the financial industry could be threatened by bitcoin and its potential risks, should it develop into a widely used means of payment, saying: "There could be potential risks to overall financial stability if Bitcoin became a significant means of payment and the Bitcoin system remained unstable." The comments came as part of wider report on digital currency platforms - such as Amazon Coins, Facebook Credits....