Financial experts warn that The European Central Bank should be quick to want to act when you say, compared to other regions (China) an advantage.
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Europe’s Crypto-Plans
According to a Reuters report, Banque de France,”said Francois Villeroy de Galhau said, “this week on a financial conference in Paris and urged the Bank to accelerate its crypto-Euro-plans. A number of Nations are already in the process of their own CBDCs (digital currencies, the Central Bank) to introduce. China is currently the most advanced.
The head of the “Banque de France”:
“It would be an advantage, if we would quickly spend a minimum of a CBDC-wholesale, as we would be the first such Issuer in the world, and thus, the advantages of a Benchmark would use CBDC.”
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Between China and Europe, there seems to be a race to introduce the world’s first Central Bank-based crypto-currency. The USA does not take part in this competition obviously, because they are still plagued by bureaucracy and inconsistent regulations.
According to the report, France is ready to accept the crypto-research. Before the end of the first quarter of 2020, there will be a call for submission of projects.
Villeroy de Galhau:
“Our measures are, of course, contribute to the work of the Eurosystem (the European Central banks), which should make the examination of the possibility of an ‘e-EUR’ to one of his next priorities”
Also, Japan is considering the feasibility of a government-issued crypto-Yen, Thailand follows closely behind with my own plans.
China is a threat?
Banks around the world, China’s well-publicized Blockchain ambitions and Facebook’s crypto Experiment were to Act excited. China’s crypto-Yuan currencies as a massive threat to the currently dominant, such as the US Dollar.
The crypto-Yuan should have a solid backing, such as Gold, could move the Trading direction of the Yuan, which would reduce the dollar’s dominance. At the Moment, the Greenbacks by the FED from rolls, presses, which also raises the question of what you actually support.
One way or the other, both China and Europe, crypto is likely to currencies of the insertion of Central Bank, before America comes digital in motion.