Hey Nick, I can tell you with assurance that Central banks have been quietly exploring the concept, especially in the middle east. In one case they've chosen to develop a closed, centrally goverened system on a permissioned distributed ledger. (Currently being designed)
Will some central banks soon start dipping their toes in cryptocurrency? This former central banker thinks so:https://www.coindesk.com/2018-year-central-banks-begin-buying-cryptocurrency/ …
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Very different (and very inferior to) buying public crypto as reserves.
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Don't you think that this is a very precarious path? I see decentralized crypto as a great thing as long as no large reserves are kept anywhere. Large reserves = power to dictate. The whole point was that people would control their value store, no?
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What if the crypto riches buy a bank?
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They can't buy a central bank
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central not, but commercial/investment for sure
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And get bogged down with an existing bank that has legacy tech and armies of staff? Hard to change things there... Easier to create a new bank and get regulated normally, then start using crypto... ...That's what we did with getting the investment banking permissions anyway.
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Do you think none of them have already? I think a lot of traditional institutions dipped their toes long ago. This is still dwarfed by Chinese companies and by proxy the Chinese government, which by now are skinny dipping in crypto
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Sweden is already an example of almost cashless society, banks are digital with only a few employees they are at the forefront of new implementation of hybrid digital/reserve models
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I always thought such huge incumbent first mover adoption would be self fulfilling.
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I still have a lot of doubt about that. Creating a new crypto currency is easier than many other computer projects. Why any cryptocurrency will continue its legacy ? It is going to be
#gold again with its digital form. Surely fiat currencies will lose to blockchain & gold teamThanks. Twitter will use this to make your timeline better. UndoUndo
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Hey Nick what do you think would be implications regarding crypto's prices?
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