According to the founder of the EURS stablecoin, digital versions of national currencies do not threaten crypto assets and do notwill be able to oust them from the market.
In his telegram, Grigory Klumov said thatcryptocurrencies will always be in demand due to their independence from jurisdictions and government issuers. The emergence of national digital currencies will not affect this situation and will not displace crypto from the market.
But for commercial banks, digital currencies issued by a state-owned bank can be fatal.
Central Bank counterparties participate in the distribution chaincapital, earning on interest rates for providing funds. A complete transition to a central bank digital currency makes them redundant.
The businessman is not sure that Bitcoin will become a widespread means of payment, but the future belongs to digital assets on global blockchains, he believes.
This is why I am making a stablecoin backed by the euro.
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