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Studies on issuing cryptocurrency… central bank digital currencies are really coming.
by bitxbitxbitcoin 5y ago
Studies on issuing cryptocurrency… central bank digital currencies are really coming.
- jqpabc123 5y agoYes, digital currency (not necessarily "cryptocurrency") is a no brainer --- as various studies have already shown, it will happen eventually. The doom and gloom prophecies are just misinformation. Most of the economy is already running on digital currency transactions --- they are called debit/credit cards and ACH/wire transfer. A CBDC (central bank digital currency) would just cut out the middle men like Visa and Mastercard. It's insane in the modern era that digital transactions often carry up to a 3 percent fee. Centralized accounting software is just not that expensive to run. Cryptocurrency is often even worse in this regard due to the time/effort/energy needed to process transactions. A CBDC would stifle the crypto market based on nothing but simple economics and functionality. "Proof of work" simply will not work as a basis for common widespread currency use.