Sweden’s central bank, the Riksbank, is looking at launching a national cryptocurrency called the e-Krona in as few as two years.
Well, the idea of a nation adopting blockchain technology is, in itself, quite satisfactory, but the idea that a central bank is trying to do this, brings with it several questions.
Will it be centralized?
Will they be cryptocurrencies mined according to the economic growth of a nation, or will they simply assimilate technology to maintain the fiat money system?
Well, this is what they have said about it:
It is speculated that the e-Krona would work by either having it work like cash currently does, with value stored on an app or card rather than a central database, or it could be in a registry-based system with the e-Krona stored in accounts held in a centralized database.
So, apparently banks and financial institutions are already studying the possibility of moving to the cryptocurrency market, but it will simply be the way to pass all or most of the fiat money to a digital system, but nothing decentralization, and nothing to empower people to control their own money.
Until now little is known about this, but what difference can there be between a cryptocurrency created by the central bank of Sweden, and the Bank of Russia, China or Venezuela? In all these cases, the financial mafia is perpetuated.
We hope that things change, and that there may be an environment of greater freedom for people, where money, regardless of its presentation, is at the service of society and the individuals that comprise it.
I just don't trust in a central government doing this, no matter who it is. Sweeden is better then Venezuela, but how will they manage the volatility in crypto? That is not something you want in a national currency. Maybe by then it will have more liquidity but still.....no me gusta
I imagine that they will deal with volatility just as they do with fiat, because in practice, that will be a fiat currency, but that it will use the blockchain technology to make the transactions.
To me this represents the potentially dangerous side of crypto currency. Governments would love to eliminate cash and that has already begun by the removal of large notes in the Eurozone and in India. For crypto to help free the people it will need to be decentralized and ultimately not attached to the fiat system. We live in interesting times my friends.
Totally agree.
Still, people have to accept the bloody thing and I assume these will be fiat pegged. A financial crash+Anonymous attack on the network+Data breach is all we need. Plus early crypto adopters will have much power left and nobody will really bring down crypto. We need more cyberattacks on governments and starve the beast financially.
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das ist die absolute Katastrophe wen Banken die Kontrolle über kryptowährungen haben
That's right, it's a danger.