Adam Back, CEO of Blockstream and HashCash, has said: "Nothing is above Bitcoin, no Central Bank Digital Currency, no stable coins."
He continued that: "I think that blockchains are more about permissionless, uncensorable usage and free market money. I think while it is possible and useful for some use cases, like crypto trading, to have stable coins, they inherently fall short of Bitcoin as they have custody risk, and if there is a central bank underwriting also traditional establishment interests reflected in the operation which may look unattractive to users."
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https://cointelegraph.com/news/exclusive-nothing-is-above-bitcoin-no-cbdc-no-stablecoins-says-blockstream-ceo-adam-backThis is why banks are threatened and most of them are doing their best to prevent Bitcoin from hitting the main market while some other banks are open about the adoption. Bitcoin is the king not because of its value alone but also because of its technology. We may down right now, but the future is still bright and good for bitcoin we will see the mass adoption very soon and at the right time for us.