Official Cyber-Coins: Estonia says "please" and ECB says "in your dreams"!
Mario Draghi, President of the European Central Bank (ECB), opposes the proposal of the Director of the Estonian Program of e-Residency, Kaspar Korjus, for Estonia to carry out the first public offering of cyber-coin (ICO) issued by the state, accessible to people anywhere world through e-residency.
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Draghi stressed that no member state can re-introduce its own currencies, as the only official currency in the euro area is the euro, reports Reuters
More about possible EstCoin, you can read on:
businessinsider
davidgerard
Great country when it comes to IT and digitisation. They already have elections via internet and seems that they are also really open to blockchain. But be ware Estonia, when China's government needs some discounts on coins they will spread the rumours about banning the domestic crypto exchanges and you will suffer like the rest of the crypto :)
True. I also follow few good crypto & blockchain developers on Fb-they are all from Estonia. About China....do you really think, that trend will spread to Europe?
If you have in mind the threats about banning exchanges, I think not, probably European Union will have some more wisdom when taking decisions. Also the things are more complicated in Europe cos every country has quite some independence how to deal with Crypto. USA is another story, much more centralised and will probably fight against Crypto if USD or their economy will be in danger.
USD is lately showing real signals of devaluation. US banks and even FED will not be able to pay around 1 billion per year -ONLY for paying credit for loan (today US NATIONAL debt is just under 20billion $ , and whole debt (national+personal+held by foreign countries+ medicare+social security = GAAP) is around 107,431,760,000,000 (107+ trillion)
http://www.usdebtclock.org/
Yes but the national debt of big countries or super powers is not as a problematic like it is from small economies. I am pretty sure that USD is low because Trump administration wants to benefit from it. Expanding the export and attracting money to come to USA. That of course doesn't mean that another economical crises cant hit in the near future. It is just the question of time and when it happens Crypto will explode. Next crisis will be much more difficult for banks, Wall street, regulators, governments, because people will have an alternative. If crypto is already mass adopted it can weaken fiat much more than it did the last crisis.
Firstly, Trump has no say about decision making. All presidents are just intermediary link between big banks/corporations, media and people. I think, there is still too many "if" words. Sure, crypto system is pretty good and could be an escape. Will be for some of us. But there is not so many people on this mother earth, that have an open BTC or any other crypto account with enough currency to live through tough times. Maybe after 2-3 years, a lot bigger percentage of people will actually use crypto. I hope....
I agree about Trump, I am not pointing out that he has a power, he is just a doll like all other presidents. Big capital and corporations (so called Strategic interest of US) are leading the policies. Of course I am also referring to the future, let's say BTC will change the World in next 10 years to be sure :)
In 10 years ? I'm also pretty sure about that :)
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