This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.rt.com/business/527033-central-banks-crypto-plans/

The article has changed 3 times. There is an RSS feed of changes available.

Version 1 Version 2
Too little too late: Central banks are about 10 years behind the times with their crypto plans, economist tells RT’s Boom Bust Too little too late: Central banks are about 10 years behind the times with their crypto plans, economist tells RT’s Boom Bust
(about 2 months later)
Central banks are trying to stay relevant in the cryptocurrency age, so they may make preposterous claims as a way of trying to get the world to pay attention to them, says economics writer Jeffrey Tucker.Central banks are trying to stay relevant in the cryptocurrency age, so they may make preposterous claims as a way of trying to get the world to pay attention to them, says economics writer Jeffrey Tucker.
“What’s interesting about this whole question of efficiency of cryptocurrency is its energy consumption or inefficiency that actually minimizes the amount of units that can be created in the cryptocurrency world,” Tucker told Boom Bust. “And we know that central banks have specialized, especially in the last 15 months, in creating unlimited amounts of currency, but that’s not what the market really desires.”“What’s interesting about this whole question of efficiency of cryptocurrency is its energy consumption or inefficiency that actually minimizes the amount of units that can be created in the cryptocurrency world,” Tucker told Boom Bust. “And we know that central banks have specialized, especially in the last 15 months, in creating unlimited amounts of currency, but that’s not what the market really desires.”
Tucker explains that “A real cryptocurrency’s value is determined by market forces, not by governments and big shots on stages at fintech conferences.”Tucker explains that “A real cryptocurrency’s value is determined by market forces, not by governments and big shots on stages at fintech conferences.”
He says: “I think this is quite implausible, I’ve doubted the idea that central banks could create a viable competition to bitcoin and other cryptocurrencies. And this, to me, just underscores the point – it's too little too late and they are about 10 years behind the times.”He says: “I think this is quite implausible, I’ve doubted the idea that central banks could create a viable competition to bitcoin and other cryptocurrencies. And this, to me, just underscores the point – it's too little too late and they are about 10 years behind the times.”
For more stories on economy & finance visit RT's business sectionFor more stories on economy & finance visit RT's business section
Dear readers and commenters,
We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.
Sorry for the inconvenience, and looking forward to your future comments,
RT Team.