So the Banks are issuing their own digital currencies and this trend is increasing day by day. Will Digital currency of Banks can replace the Bitcoin? What do you think about it? Share your opinions
That's gonna be a "Hard No" from me, Dawg.First of all, the currency banks use is already digital. Most transactions in the world are digital. How often do use paper currency?
Second, banks creating currency to be verified over the blockchain is a great idea for them to prevent fraud, and it is not at all a "cryptocurrency"...it's fiat currency being transacted over a blockchain. The money supply isn't finite, the banks get more visibility into how each person is spending their money. There will be know "adoption from the market".
Don't get me wrong, banks and government SHOULD put their transaction system onto the blockchain because it would drastically speed up our payments to and from each other...but any talk of a 'new currency' is just clever marketing.