Should our Central banks Use Cryptocurrencies Like Ethereum And Bitcoin
Should our Central banks Use Cryptocurrencies Like Ethereum And Bitcoin
I stumbled on an article that says:
Central Banks Are Considering The Use Of Cryptocurrencies Like Ethereum And Bitcoin
Thoughts After Reading
If our central banks adopt the cryptocurrencies into their financial structuring and bring it into the banking world, well i would say it's a very good idea to begin with but i also feel there are still complications the bitcoin community have not put into consideration...
* First if the cryptocurrencies is integrated into our everyday banks, what is the assurance the cryptocurrencies won’t lose its values because I strongly believe that would be the first thing the IMF would want the central banks to do, seeing ways where they can devalue the our bitcoin and Ethereum. Dont forget 1B is 2,800 against the dollar..
* While the apex bank be able to handle all the security measures required to secure our bits with the recent rate of hacks on bank account all over the world. * There might be a jump in transaction charges knowing that the merchant/local banks who you will have deal with when making a transaction would charge you and also the apex/central bank would also want a percentage of that which would lead to a definite increase on charges.
* There might be more monetary restrictions on how much you can spend each day. we all know that's the style of central banks to monitor how we spend and reduce it...
So i would say this might be a bad idea for users...
Note: you can find the full article about this post on the link provided by hothardware.com
ALL CREDITS TO THIS POST GOES TO hothardware
@goldenglory
Nice write-up
Great job
Keep it up.
thanks @playhard will follow and upvote you post. hope you do that too
It is not so much the banks I wonder about, but the very money system itself and the impact of the Federal Reserve on the World's economy. What will happen when centralized, private, secret sources of wealth and money are replaced by those supported by blockchain technologies that inherently prevent corruption and secrecy? I have heard about these technologies for a while, but I think the mainstream powers understand the game-changing, monopoly destroying impacts of these currencies and technologies, and hence, are staying tight lipped til the bitter end. Whether a new mousetrap will be developed within these systems by banks or if they must submit to playing fair, is yet to be determined. but I somehow don't see how 'business as usual' will be possible for the Big Banks.
You are totally right... will they submit to fair play or just business as usual