Post
Topic
Board Economics
Re: Cryptocurrency could benefit the world's economic welfare?
by
audaciousbeing
on 29/07/2018, 17:15:37 UTC
Canada and the United States economic welfare may come through cryptocurrencies. Canada's Central Bank has published such a paper. Only the economic development of these two countries? Or cryptocurrency can bring economic welfare all over the world.

https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/

What do you think about the economic world of cryptocurrencies?

I am sure a lot of people didn't bother to read more and understand the crypto currency being talked about here just assuming that its bitcoin or the known coins we have come to be aware of in this crypto ecosystem.

Of course crypto currency is going to boost the economy and save a whole lot of costs that is being expended in printing notes at intervals and having to build safe rooms all over to ensure security couple with the cost incurred to move it from one place to another. This would be basically eradicated with the presence of crypto which the paper clearly outlined but the concern there is how would both cash and digital currency co-exist which is something they are yet to figure out and I think that should not be a problem at all as crypto should be rolled out on a phase basis while cash is still being used.

Another area of concern is because the crypto they are talking about is purely state backed crypto and how they want to convince those already aware of bitcoin, ETH and others to adopt that fully is way out of imagination.