Post
Topic
Board Economics
Re: Cryptocurrency could benefit the world's economic welfare?
by
avikz
on 30/07/2018, 11:38:33 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?

This is possible only if the cryptocurrency is accepted as a legal tender in that particular country.  Means, it will be only effectively boost a county's economy if a person can purchase goods and services using cryptocurrency.  Otherwise, it will have no impact on the economy.

In majority of the countries, cryptos are being used as an investment. That will not boost the economy of any country because at the end of the day, investors will have to convert it to fiat to see the profit. To empower the actual economic boost through cryptos, it needs to be a legal tender first!