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Bitcoin critical Agustin speaks against centralized cryptocurrencies

agustin against centralized cryptocurrencies

Agustin Carstens is an avid Bitcoin hater and also the general manager of the Bank of International Settlements. He has openly voiced his opinion on the negative impacts of cryptocurrencies on global Finances and recently has shared his views on the plan of Central Banks on launching their own personal digital currencies.

He stated that the digital currencies of central banks could hamper the progress and stability of the global financial system. He has further elaborated on this saying the digital currencies of central banks will have an immensely negative effect on market liquidity.

On this note, the managing director of the International Monetary Fund is in support of the decision of central banks to issue their own digital currencies. She herself elaborated on this and considers that central banks digital currencies are much safer than a currency with a decentralized network like Bitcoin etc.

Agustín Carstens is getting worried for nothing as it seems that only a small number of banks are actually going to implement this plan of having a digital currency. Despite Switzerland embracing crypto space and having even the renowned crypto valley in it, its important banks like the SNB have come out saying that the digital currencies are not even needed.

But seeing how the trends are going it is safe to assume that banks will start launching their currencies considering how outdated the concept of paper money is getting.

Shawn Du'Mmett

Shawn Du'Mmett

Former IT development and consultant, remote team and collaboration expert, PM, CCO, writer, dreamer, idealist looking to collaborate with global teams on a global teal/turquoise organisation. Shawn's dream is working together openly, to get what writers need and want, and to solve biggest global problems. He is building a collaboration system from the start that everyone can own and define, allowing them to work together, to decide how it works and to their highest ideals.

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