Why native cryptocurrency banks — is that bad? The opinion of management, BIS

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2019-03-24 15:30:08

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The head of the Bank for international settlements BIS Augustin Carstens criticized the initiative of banks to issue their own digital currencies. As he says, they just copied from the cryptocurrency, but in reality . This opinion he expressed during a recent speech at the Central Bank of Ireland.

According to a top Manager, Central banks that are not accustomed to working with clients will be forced to assume such obligations. This will affect their ability to dictate monetary policy.

the

JPM Coin threatens the Central banks more than cryptocurrency?

Representative of the BIS also said that the establishment of native crypto-currencies by Central banks may lead to unpleasant consequences.

…it is not only the consequences for the operating activities of Central banks, but also a threat to the stability of the financial system as a whole.

Carstens said that the Central banks are responsible for ensuring the smooth functioning of the economy and «». As he argues, «defective cryptocurrency» can have an unpredictable impact on the demand for traditional money.

Source: Bitcoinist

Of Course, innovation must be implemented, but this should not be to the detriment of other systems. I'm not saying that banks need to completely stop the development, but also to drive ahead of yourself is not worth it.

According to the British news publication CityAM, on this question the head of the BIS was motivated by the numerous applications of the Central and commercial banks, plans to launch its own digital currency. Most attention is attracted , the CEO of which has long had the reputation of a major hater .

And all would be well, that's the only native coin really has little to do with cryptocurrencies. At the moment we know that the token is tied to the price of the dollar. More data to search for .

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