A Central Bank Cryptocurrency? Not in 2018


Central banks may have 800 pounds in the gorilla financial world, but they prefer to monitor remote developments, largely kept their own hand Bitcoin and other cryptocurrencies.

Will it change in 2018?

Some people have speculated that 2018 will be the time when Central Bank will start adding bitcoin to its balance sheet. I do not think so. Here's why: Your average bitcoin buyers come with different goals from your average mid-banker.
Bitcoin buyers want to get 10,000% returns and engage in near-anonymous transactions. Central bankers are not required to get high returns or anonymous. They have their obligation for their citizens to ensure the stability of the currency. The stability of the assets organized by the central banks in their portfolio is an important element in fulfilling this mandate.

If the purchasing power of money starts very fast with regard to its goal then the central banker will buy enough money and try to undo it.For this it is necessary to sell the property in the open market by selling its portfolio or sale.

Such assets, which do not make too much fluctuations in value - say a government bond - can be considered stable for the sale of free markets, but the price of bidoin decreases 20 to 30% per day per day regularly. Given this instability, a mid-banker can not trust the bidcoin to support his future buy-out efforts. This means that Bitcoin will not help central bankers to secure their price stability mandates, and I do not expect one of them to include bitcoin and other cryptosures in their portfolio.

Now, there are some central banks that add cryptokucreands to their balance sheets - but only as a political coup.
For example, I think Central Bank of Iran or Central Bank of Russia is publicly announcing that they will reduce their reserves in US dollars from a small amount and convert them into bitcoin.

But this would be just a means of making a public shock against an enemy, and not as a means to promote a healthy central bank.

source https://www.coindesk.com/central-bank-cryptocurrency-not-2018/

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