For what purpose do banks create their own cryptocurrencies?

[nimzy]

To my opinion the purpose to which cryptocurrency is established and developed for the purpose of profit making and business transactions is also the same as which the bank also developed

 

[Setho]

I have not seen any bank that has followed in this direction but I think that's the most likely the reason will be because they will want to use blockchain technology in their software.

 

[Heatman]

I don't think we have banks that has its own crypto coin. We only have banks that deal with crypto coin and the digital coin. And not digital coin is crypto coin.

Banks will definitely have their own cryptocurrency in the nearest feature because with the way the governments of the world is going right now and they are ready to strike off the existing cryptocurrency that we all know about but it's going to be very difficult for them to do it.

 

[btaliat]

Banks will definitely have their own cryptocurrency in the nearest feature because with the way the governments of the world is going right now and they are ready to strike off the existing cryptocurrency that we all know about but it's going to be very difficult for them to do it.

That is what I was saying in one of my thread. Bank may not have crypto. But they cannot run away from digital currency. There is difference between the two.

 

[Sincerem]

Banks are simply going into the digital world, creating their own CBDC due to instructions given to them by the country's government to promote their own fiat currency by creating a digital currency for it. They simply wants to regulate every transactions that circles around it since they can't get hold of cryptocurrencies that are decentralized.

 

[Justin]

I have not heard of any banks creating their own crypto currencies. But I have read about the banks creating their own digital currencies. I thin China crated the world's first central bank digital currency.

 

[tyrim88]

First, at the micro level, cryptocurrency behavior is a reflection of the growing security of cryptocurrency transactions. In addition, cryptocurrencies allow investment Banks to more micromanage their capital operations. This kind of capital operation can be closer to physical analysis. For example, when dealing with capital operation under different conditions, cryptocurrency can better conduct closed research.

Concerning the creation of cryptocurency by banks,i think it is not the thought that they are having their own crypto,what they are doing is to creat their own dogital form of money that people canuse for payment and commercial exchange,

 

[Suba]

I have not heard of any banks creating their own crypto currencies. But I have read about the banks creating their own digital currencies. I thin China crated the world's first central bank digital currency.

As we know, the government is very worried, because cryptocurrency is not just a potential digital currency but as a means of investment and trade, even cryptocurrencies have been considered a safe haven like gold and USD. So that the main goal of the central bank is to create their own digital money or CBDC that is pegged to local money, with the aim of limiting the circulation of cryptocurrencies, the central bank is also worried that their local money will move abroad, through crypto exchanges.

 

[Senator]

This is a new one for me today because I have not heard of banks creating or about creating their own cryptocurrency as you have mentioned. Which banks created their cryptocurrency please?

 

[Justin]

As we know, the government is very worried, because cryptocurrency is not just a potential digital currency but as a means of investment and trade, even cryptocurrencies have been considered a safe haven like gold and USD. So that the main goal of the central bank is to create their own digital money or CBDC that is pegged to local money, with the aim of limiting the circulation of cryptocurrencies, the central bank is also worried that their local money will move abroad, through crypto exchanges.

I don't think government are trying to replace crypto currency with their own central ban digital currency. Crypto currency is more than a payment form, it is digital asset that give you profits through investment and trading.

 

[Suba]

I don't think government are trying to replace crypto currency with their own central ban digital currency. Crypto currency is more than a payment form, it is digital asset that give you profits through investment and trading.

I'm not saying the government will replace cryptocurrencies with their digital money, but only limit the circulation of crypto and supervise its use, through crypto exchanges, try to imagine if more than 50% of a country's money circulation is in cryptocurrency, of course their finances will be difficult.

 

[Justin]

I think governments are trying to woo the people who are not using cryptos yet or re hateful of cryptos. By the use of CBDC, people will be able to perform transactions with fiat currency just like cypto currencies.

 

[Elfinito]

With the growing rate of crypto currency in the global market, banks may see their fiat currency lossing value so the only way to keep their currencies on track is to make it digital as well

 

[Trexxxy]

Banks don't create crypto. There may be banks out there with their own cryptocurrencies but I don't think that would be in the public space.

 

[Stnicholaz]

I don't if anybody bank have created their own cryptocurrency but I would try and find out if there is any. The only one I know is the E-naira that Central Bank of Nigeria is trying to launch.

 

[tyrim88]

I do not know of any banks that have created their own crypto currencies. If you mean central bank digital currency or CBDC, these currencies are created by the central banks which is owned by the government.

I think one of the reason state banks of some countries are coming up with their own version of the state fiat currency is because of the implication of what the crypto currency can do to their local economy.

 

[Partisan]

Cryptocurrency is needed by everybody it is the online money that everybody is required to bank creating their own account is just like a normal person creating a their account because they are also traders and they are also in the money market

 

[Skysaint]

I haven't really heard of banks creating their own cryptocurrency, and even if it existed or that there is a possibility of that, am quite sure it won't be in my country as they have placed ban on cryptocurrency trading and investment here

 

[Kubiat-Abasi]

I'm yet to see such bank. But if that's possible the reason would be crystal clear because they want to make their profit too or build a household brand!

 

[Blessedsam60]

Banks creates their own crytocurrency because they felt pressured and they want to protect their currency from falling. Take for example, the central bank of Nigeria just created e-Naira, their first ever crytocurrency to curb the way naira is falling everyday.