Bitcoin - A By-Product of the 2008 Financial Crisis

The recent collapse of the Bitcoin (BTC) price has attracted the attention of the financial community to the cryptocurrency. Your attitude towardsThe leading digital asset was expressed by Member of the Executive Board of the European Central Bank Benoit Keru.

Keru stated that Bitcoin is a spin-offa product of the 2008 financial crisis, as Bitcoin creator Satoshi Nakamoto published the project's white paper during a global market downturn. At the same time, Querou admits that the idea of ​​​​creating a cryptocurrency was smart, but, according to him, “not every smart idea is good.”

Benoit believes central banks will notcryptocurrency issue in the next decade. The director of the International Monetary Fund (IMF) Christine Lagarde disagrees with this. She argues that all central banks should issue digital assets that can be used as a means of payment.

At a conference in Singapore, Lagarde announced:

“Central banks of several countriesare considering the idea of ​​issuing a national cryptocurrency, including – China, Canada, Sweden and Uruguay. They, like the IMF, are interested in using blockchain technology.

According to Lagarde, national digital assetshave an advantage compared to fiat currencies. In particular, they can be used to increase the level of security of financial transactions and make digital payments more accessible. Christine also mentioned the important quality of digital assets – privacy, however, national cryptocurrencies most likely will not be able to boast of this, since they will be controlled by the government.