Garrick Hileman, head of research at crypto firm Blockchain.com, says CBDCs run the risk of being "massively overhyped and under-delivering."
China's digital yuan currency is displayed on a mobile phone in Yichang, Hubei province, China, Feb. 22, 2021.Don't expect central banks to issue their own digital currencies anytime soon — that was the message from the Bank of England this week.exploration of central bank digital currenciesBut even if it decides to push ahead with the proposed digital currency, which has been dubbed "Britcoin," it's unlikely to arrive until at least 2025, the BOE said.
Anne Boden, CEO of London-based digital bank Starling, said a key question that's still not been answered is which problem Britcoin is trying to solve. Boden is one of"Everything we do in this space has to solve a real problem," Boden told CNBC last week. "It has to have uptake and needs to be ubiquitous enough in order to provide some real value."to develop their own digital currencies lately., says it hopes to have a digital version of its krona by 2026.
But the PBOC's digital yuan comes with a number of problems that make it less attractive in Western countries. Critics say it's too centralized and could be used to boost government surveillance. That's because, unlike cash, people's digital transactions can be tracked online.Garrick Hileman, head of research at crypto company Blockchain.
$GN
Bullish
At least making bitcoin illegal is the reality already
NB
China is major exporter world wide and China govt allows exporter to under invoice and take payment in illegal mode hence bit coin will be a boon for Chinese exporter as huge black money inflow will be inside china in the form of bit coin PMOIndia RBI FinMinIndia
Or the UK
horrible