Ryan Taylor prophesied crypto-currency of the Central banks
Home News Ryan Taylor prophesied crypto-currency of the Central banks
In an interview with Cointelegraph, on the Money 20/20 conference, the CEO of the Dash Core Group of the company around the crypto-currency Dash gave his prognosis to the development of crypto-currencies. In his opinion, Central banks will in the future bring their own crypto-currencies. Thus, the decentralized System of the Blockchain would be put into question, however, because the banks would once again be the leading place. Might come true, the prognosis from Ryan Taylor, and what impact this would have currencies to trade with Crypto and the world of Finance?
From Central banks soon crypto currencies?
The future vision of Ryan Taylor is clearly. He firmly believes that Central banks in the near the future currencies of their own Crypto to be put on the market. At the same time, he says, however, that it is the users themselves will depend on what currencies they support, or as the payment methods. Thus, it is still in the hands of the buyer, whether or not you want to support state currencies. And also the stock exchanges, and brokers like eToro have a strong influence on the reputation and thus the development of the price of a crypto currency, as customers to your expert opinion to trust.
Currently, the currency Bitcoin by many companies as an Online payment means accepted, one of the reasons why still many investors in Bitcoin investing, and especially on the market leader. This might change but through the Intervention of the banks is critical. Taylor also sees positive aspects in the creation of its own crypto-currencies, because only the Alternatives to the traditional banking system are a step in the future. Nevertheless, he stresses that the free market provides better means of payment than the government is capable of.
Why he believes so strongly in the Central Bank’s crypto-currencies, says Taylor, is also very simple: of course, the government authorities should be subject to the pressure of competition and sooner or later need to reorient. In addition, many governments will want to use soon, even areas of application of the Blockchain. He sees here, but not a particularly interesting innovations on the part of the state. The free market wins, so in Terms of development.
Regulation of the crypto-market
Taylor prophesied also that many countries will be determine soon stronger regulations for the crypto market. Smaller countries could begin soon, also for the United States, he expected, from the beginning of the year 2019, some of the provisions. Countries such as Iran had already expressed itself on the subject of a national crypto-currency. In Iran, this is already in the planning stage, but with the Iranian currency, the Rial, connected. So not only Transfers are to be facilitated abroad, but also sanctions of the incumbent US President, Donald Trump will be bypassed. In Venezuela, Petro is the official crypto-currency of the government. This should fix problems with Fiat currency, but so far not very successfully. The Petro is hardly used and therefore offers no stable course.
The EU Parliament has produced a recent study saying that crypto-currencies of Central banks are a good way to Supplement the lack of competition in the digital financial sector. Japan, however, shows the idea rather averse to. A Director of the Bank of Japan recently announced that the idea of a national Cryptocurrency would only be useful if the Fiat currency of the country would be abolished. Otherwise, the Bank is not out the a crypto type of currency as a successful endeavor.
The CEO of Dash is certain: Central banks will give out in the future, your own crypto-currencies, and governments will regulate the market more. Whether this entails only the limitations or advantages, remains to be seen!