Central Bank Digital Currencies are coming
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Central Bank Digital Currencies are coming
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Re: Central Bank Digital Currencies are coming
#2The Bank of England has been using a digital currency for years. When British banks settle up overnight, nothing physical is moving around. I'm pretty sure the same would be true of any developed country.
Re: Central Bank Digital Currencies are coming
#3The Bank of England has been using a digital currency for years. When British banks settle up overnight, nothing physical is moving around. I'm pretty sure the same would be true of any developed country.
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Re: Central Bank Digital Currencies are coming
#4The Bank of England has been using a digital currency for years. When British banks settle up overnight, nothing physical is moving around. I'm pretty sure the same would be true of any developed country.
There are different types of CBDCs with various focus areas, e.g. wholesale CBDC (banking innovation, similar to what you mentioned) and Retail CBDC. The CBDC model that is gaining increasing momentum, despite expectations, is the retail CBDC, which due to some form of overlap with banking innovation, retail payment innovation and cryptocurrencies (as the extreme) makes it a hot debate topic. The interesting observation here is that numerous Central Banks are passing the “debate” phase and some already getting ready to release aka “production grade”, e.g. China.
Re: Central Bank Digital Currencies are coming
#5This is going to end up as a giant hyperledger failure. Once the committee forms on how to do "this" it will be mired in indecision and eventually collapse on itself.
Re: Central Bank Digital Currencies are coming
#6The Bank of England has been using a digital currency for years. When British banks settle up overnight, nothing physical is moving around. I'm pretty sure the same would be true of any developed country.
As usual HN has missed the point about digital currency. We dont mean physical fiat digitized, but a public ledger.
I wish someone could tell me how such a smart group of people could be so consistently stupid about a topic.
Re: Central Bank Digital Currencies are coming
#7This is going to end up as a giant hyperledger failure. Once the committee forms on how to do "this" it will be mired in indecision and eventually collapse on itself.
Or, HN will continue to be wrong about digital currency.
Re: Central Bank Digital Currencies are coming
#8Buy gold.
Re: Central Bank Digital Currencies are coming
#9European banks recently started toying with the idea of passing down negative interest rates to customer bank deposits, so that banks are less squeezed by reserves yielding negative returns (breaking the typical bank business model).
Just think, if CBDCs pass down the negative interest rates to everyone's cash, inside or outside of banks. That's not a currency I would be happy to hold.
Re: Central Bank Digital Currencies are coming
#10The Bank of England has been using a digital currency for years. When British banks settle up overnight, nothing physical is moving around. I'm pretty sure the same would be true of any developed country.
That is not the same thing. Having addresses with private keys that are the sole permission needed to make transfers is much different from having a bank account that the bank transfers electronically for you.