Do You See Hope in CBDC

[Nomad]

CBDC is an idea that is being explored in many countries. Even in my home country, where crypto is banned, the government is working on creating CBDC. Do you think CBDC can actually establish as a primary player in the crypto market? Well, in my opinion, CBDC has a great hope in the face of growing demand for decentralized cryptos, I think the governments are just trying to fish in the muddy water. CBDC are nothing but the digitalized version of centralized money,

 

[Riberet19]

What do we mean by hope? that they will prosper? Surely yes, but I don't see much future in it as a technology honestly, it is a technology that is made to deprive you of more financial independence in the long term, so I think they will not do the economy any good in the long term, I think it will act inside the crypto world to regulate it completely and have control over it since they will know where all the transactions go thanks to this currency with technology blockchain.

In Europe there is little time left for CBDCs to implement it, it is already in the development phase, and I think that in China it is already used, I hope that after all people will continue to adopt Bitcoin to counteract this

 

[Nomad]

Yes, when I said hope I meant future. Well, I also do not see future of CBDC. They ill never be able to counter crypto. But I also believe people who are not much interested in crypto but want to benefit from crypto low cost transaction and hassle free transaction will use CBDC as these coins are created by government and people will trust them coins.

 

[Riberet19]

That's right, but the problem is that the normal citizen who doesn't have much knowledge will adopt them without thinking much about the long-term consequences of this currency, I expect the digital euro to be a total failure.

 

[Nomad]

CBDC will certainly solve the issues of fiat currency and help fiat currency users to perform digital transactions, however, it is pegged with fiat money so in terms of investment, they are not useful