Post
Topic
Board Economics
Re: Swiss Franc become a new Cryptocurrency ;D
by
tabas
on 08/11/2023, 17:33:38 UTC
I thought that Switzerland has been long into digital currencies.

In fact, CBDC can be very dangerous for the value of a country's currency. Just imagine, even the uncontrolled circulation of fiat money can cause the value of that country's currency to experience a very drastic decline, while with CBDC, governments can freely create units of their country's CBDC continuously and it is very likely that the amount will be unlimited, however, if the government is unable to limit the circulation of their money, it will be dangerous for the future of their country's money.
I think just as the fiat currencies, there's always the audit that needs to be done for the CBDCs. Actually, these countries don't really need this at all. They are just digitalizing the money that they have so that they think that they're in with the trend and to make their people think that they don't need Bitcoin because they have their own supported, government-back CBDC.

However, the story would be different if the Swiss government withdrew their fiat money and allowed their circulating CBDC to be used by citizens.
To wholly dispose their fiat money? If that is so, I don't think it will happen.