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I don't think they are 'jealous' of anything. The central banks have no incentive to create competition on money markets, their central issue is creating a stab
by darkcha0s 6y ago
I don't think they are 'jealous' of anything. The central banks have no incentive to create competition on money markets, their central issue is creating a stable currency that fluctuates little in value; creating another 'coin' would go against that cornerstone. I think you are trying to shoe horn in the idea of this being a crypto / blockchain backed thing, which (while it might be implemented on top of such) it is definitively not.
- xiphias2 6y agoThey are specifically mentioning stable coins as an inspiration/competition. When you have to say why your product is better than another, you are definitely taking it seriously. Of course cryptocurrencies are not short term risk for central banks, but they already have some advantages that grow long term.
- darkcha0s 6y agoYou didn't read the entire article, did you? They go on to say that they are specifically different than crypto, because they are backed by a central bank. That makes a world of a difference.