• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    BTC/USD Price

    BTC/USD Price Prediction: BTC/USD historic uptrend fails to respond to 1.6% rising treasury bonds

    XRP/USD Price

    XRP/USD Price Prediction: Should bulls prepare for an XRP/USD ATH above $0.7000

    Bitcoin reclaims $1 trillion market cap as price surpasses $50,000

    Bitcoin reclaims $1 trillion market cap as price surpasses $50,000

    Ripple price analysis XRPUSD grinds towards $0.50 resistance

    Ripple price analysis: XRP/USD grinds towards $0.50 resistance

    Bitcoin price analysis Breakout to fresh highs imminent as BTCUSD crosses $51K

    Bitcoin price analysis: Breakout to fresh highs imminent as BTC/USD crosses $51K

    Polkadot price

    Polkadot price prediction: DOT to fall to $28

    XRP

    XRP will exist forever – Brad Garlinghouse

    Uniswap price prediction

    Uniswap price prediction: Uniswap breaks $33, sets a new all-time high

    chainlink(LINK)

    Chainlink Price Prediction: Chainlink Price battles $28 and $30 supports

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    BTC/USD Price

    BTC/USD Price Prediction: BTC/USD historic uptrend fails to respond to 1.6% rising treasury bonds

    XRP/USD Price

    XRP/USD Price Prediction: Should bulls prepare for an XRP/USD ATH above $0.7000

    Bitcoin reclaims $1 trillion market cap as price surpasses $50,000

    Bitcoin reclaims $1 trillion market cap as price surpasses $50,000

    Ripple price analysis XRPUSD grinds towards $0.50 resistance

    Ripple price analysis: XRP/USD grinds towards $0.50 resistance

    Bitcoin price analysis Breakout to fresh highs imminent as BTCUSD crosses $51K

    Bitcoin price analysis: Breakout to fresh highs imminent as BTC/USD crosses $51K

    Polkadot price

    Polkadot price prediction: DOT to fall to $28

    XRP

    XRP will exist forever – Brad Garlinghouse

    Uniswap price prediction

    Uniswap price prediction: Uniswap breaks $33, sets a new all-time high

    chainlink(LINK)

    Chainlink Price Prediction: Chainlink Price battles $28 and $30 supports

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Exchange News

Binance Changpeng Zhao believes CBDC could replace Bitcoin

Muhaimin Olowoporoku by Muhaimin Olowoporoku
October 22, 2020
in Exchange News
2 min read
Binance Changpeng Zhao Crypto card issuer Binance upgrade Binance headquarters Binance coronavirus donation
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

Binance Changpeng Zhao, CEO of the leading crypto exchange, has said that the launch of a Central Bank Digital Currency (CBDC) could threaten the existence of Bitcoin. However, the CEO said that CBDC could only be a treat to Bitcoin if they are designed well enough.

Central Bank Digital Currencies have continued to gain traction as many countries globally are looking at launching a CBDC. Even the International Monetary Fund and its former managing director, Christine Lagarde, are talking openly about the pros and cons of the idea.

China leads the CBDC race as the Digital Yuan is already in its final stage of testing and would be launched anytime soon.

RelatedPosts

Decentralized exchange trading lacks infrastructure despite rapid growth

Binance launches support for ADA upgrade

Coinbase pre-IPO shares appreciate following S-1 filing with the SEC

US exchange, Coinbase files with SEC to go public through direct listing

Mostly, it is believed that when countries begin to launch their CBDC, it might take a negative toll on Bitcoin and other cryptocurrencies.
However, Binance Changpeng Zhao said that any blockchain or digital currency would be good for the crypto industry generally. He said this is because it would legitimize digital assets and bring more awareness to it. The CEO also noted that as countries globally are working on launching their CBDC, most of these currencies are likely to be restrictive and would evolve with time.

Direct threats CBDC would have on Bitcoin – Binance Changpeng Zhao

Binance Changpeng Zhao disclosed that a lot of CBDC would not offer much financial freedom like Bitcoin and other cryptos as they would be controlled by the government.

The CEO, however, noted that on a long term if other countries begin launching CBDCs that are more open, free like Bitcoin, then crypto would be threatened.

Zhao likened it to HTML5 replacing HTML 4 web language.

Interest in CBDC continues to grow globally

Interest in CBDC has grown with mixed views in 2020. Several countries like Canada, Bahamas, Japan, Russia are all working on launching a CBDC.

The US also are beginning to pay attention to launching a CBDC although Jerome Powell, Federal Reserve Chair, has said he will not be pressured to launch a digital dollar. Antony Pompliano, a crypto enthusiast and co-founder Morgan Creek digital, believes that US would be behind China if a CBDC is not launched soon.

Muhaimin Olowoporoku

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

Related Posts

decentralized exchange trading
Exchange News

Decentralized exchange trading lacks infrastructure despite rapid growth

February 28, 2021
Binance
Exchange News

Binance launches support for ADA upgrade

February 27, 2021
Coinbase
Exchange News

Coinbase pre-IPO shares appreciate following S-1 filing with the SEC

February 25, 2021

Follow Us

  • 40.9k Fans
  • 8.3k Followers

Latest News

BTC/USD Price

BTC/USD Price Prediction: BTC/USD historic uptrend fails to respond to 1.6% rising treasury bonds

March 9, 2021
XRP/USD Price

XRP/USD Price Prediction: Should bulls prepare for an XRP/USD ATH above $0.7000

March 9, 2021
Bitcoin reclaims $1 trillion market cap as price surpasses $50,000

Bitcoin reclaims $1 trillion market cap as price surpasses $50,000

March 9, 2021
Ripple price analysis XRPUSD grinds towards $0.50 resistance

Ripple price analysis: XRP/USD grinds towards $0.50 resistance

March 9, 2021
Bitcoin price analysis Breakout to fresh highs imminent as BTCUSD crosses $51K

Bitcoin price analysis: Breakout to fresh highs imminent as BTC/USD crosses $51K

March 8, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Exclusive Partners of

Footer 1

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2021 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.