Bank Of England Could Launch Bitcoin ‘Competitor’ As Early As 2018

Bank Of England Could Launch Bitcoin ‘Competitor’ As Early As 2018

Just a little over three months ago, the BIS (the central bank for central banks), released a fairly detailed discussion of cryptocurrencies that sought to answer the following question: What are CBCCs? "CBCC" stands for central bank cryptocurrencies and as we and plenty of other folks have variously suggested, it's just a matter of time before the world's monetary authorities launch their own digital currencies. Of course the mere mention of this possibility is enough to send the crypto crowd
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3 thoughts on “Bank Of England Could Launch Bitcoin ‘Competitor’ As Early As 2018

  1. You have to buy BitCoin with something and that something by law in most developed countries leaves a very obvious paper trail – as legally intended. While the transaction created within a blockchain transaction may well be anonymous – going into and coming out of a BitCoin/blockchain transaction and converting into a more widely acceptable exchange medium – again creates an a very visible trail for anyone to follow that is interested and or closely watching how you spend your money. Only unrecorded (more and more difficult today) face to face purchases and or sales of BitCoin (highly risky) offer any semblance of anonymity. if you are making a legal transaction then anonymity is really not worth this kind of effort, risk, cost and potential trouble. BitCoin mania clearly in not an informed mania.

    The development of cryptocurrencies by national treasuries are inevitable and will make the legal use of private cryptocurrencies superfluous.

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