Post
Topic
Board Economics
Re: Central Bank of Crypto-Currency
by
ninuplanste
on 08/11/2018, 11:01:59 UTC
Creating a Central Bank of Crypto-currency may no longer sound ridiculous as we are now having a number of countries coming up with some sort of mass application of the technology, the latest is from India, which reportedly ban cryptos, but recent report states that they are considering having a Bank of crypto, Ruppies-backed, Central bank digital currencies CDDC.
Are these really positive news for the crypto-market?

https://cointelegraph.com/news/reserve-bank-of-india-confirms-it-is-looking-into-making-a-central-bank-digital-currency
There is nothing like having a central bank for cryptocurrency, that’s not going to happen. Blockchain is open software and there is no one in control, everyone is in control of their money. If you’ve read Satoshi’s definition of cryptocurrency, he said that he wanted to create something that can help people send and receive money without the middleman, so cryptocurrency is like giving you complete freedom over your money and the risk is also on you. So there is no need for any bank.