October 21, 2020

Opinion: CBDC will provide the future for bitcoin

Opinion: CBDC will provide the future for bitcoin

Barry Silbert, Founder and CEO of the world's largest asset management company in Digital Currency Grayscale Investments and the Blockchain Digital Currency Group (DCG) venture company, expressed its optimistic position regarding the future of digital currencies.

Silbert argues that central banks,who develop their own digital currencies, can serve as a powerful driver for the development of bitcoin. According to the CEO of Grayscale, bitcoin and other non-central cryptocurrencies can ultimately benefit from the same infrastructure used in the widespread use of CBDC:

In the future, we may have 80 different CBDCs. And if this happens, it will lead to a huge amount of investment in financial system operators, where, in fact, every financial institution will have to be able to safely store and conduct transactions with CBDC. If they really build this infrastructure, it can be used to work with decentralized digital currencies.

Silbert emphasized that CBDCs are vital to the industry as they provide a future for digital currencies.