• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Cardano Price
    • Binance Coin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Cardano Price
    • Binance Coin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Industry News

Digital currency craze catches up with Dutch Central Bank

Albert Kim by Albert Kim
Apr 22, 2020 12:31 pm
in Industry News
2 min read
digital currency
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

The digital currency craze has caught up with the Netherlands Central Bank (DNB). The bank wants to be part of developing and testing the digitalized Euro. There is a significant shift from using fiat and the central bank digital money is planned to cash in on the anticipated boom going forward.

Crypto usability has played a major role in the fight against the COVID-19 pandemic. This has led to governments and central banks explore ways to tap into the virgin asset class. However, the complementary role the digital currencies are playing should not be seen as a way to make traditional currency obsolete.

DNB testing the digital currency craze waters

In a detailed report, the bank outlines the untapped potential that CBDC can unleash in the economy today. What’s more; over 60 percent of the population in the country is using digital currency in transacting. With many people aware of crypto, adoption could be easy.

RelatedPosts

ARK Invest bought additional $110 million worth of Coinbase shares

Akon angry he sold Bitcoin gifted to him in 2014

Crypto adoption surge continues as Night Club in Miami now accepts Bitcoin

MicroStrategy to pay directors in Bitcoin

The report adds:

A question that naturally springs to mind is whether central banks should provide a new type of money that is better attuned to the needs of citizens and firms.

Earlier in the year, the European Central Bank president Christine Lagarde said ECB will be able to benefit for the CBDC issuance.  Should the digital Euro development commence, DNB is ready to be part of the process including research support and offering ‘testing grounds’, the report says.

Such a digital currency should be able to ease cross border payments, lower the cost of transaction and make the process cheaper. Convenience is the end goal in a diverse economy. This would come in handy in times of crisis like what the world has experienced through the coronavirus pandemic.

Central bank issued digital currency craze during crisis

In recent research conducted by the Bank of International Settlements (BIS), CBDC role was emphasized especially in crisis situations. The report singled out the coronavirus induced lockdown. Physical currencies, credit card terminals, and platforms that require the use of PIN pads are some of the areas identified as the virus transmission points giving digital currency handling an upper hand.

Many businesses prefer digital payments leaving the use of digital money as the only option. As reported earlier, the number of central banks entering the digital currency craze is on the rise. This could usher in a new era for crypto to dethrone the USD from the top list of preferred fiat currencies across the globe.

Tags: cbdccentral bankDigital Currencynetherlands
Albert Kim

Albert Kim

Albert Kim is a full time tech content developer and writer specializing in blockchain and cryptocurrencies. He has been in the tech industry for the last 7 years helping businesses scale up their potential to the next level.

Related Posts

ARK Invest bought additional $110 million worth of Coinbase shares
Industry News

ARK Invest bought additional $110 million worth of Coinbase shares

2021-04-16 14:25 pm
Akon
Industry News

Akon angry he sold Bitcoin gifted to him in 2014

2021-04-14 16:36 pm
Crypto adoption
Industry News

Crypto adoption surge continues as Night Club in Miami now accepts Bitcoin

2021-04-13 16:58 pm
MicroStrategy
Industry News

MicroStrategy to pay directors in Bitcoin

2021-04-12 20:39 pm
Crypto
Industry News

Crypto investments are risky, Sri Lanka warns

2021-04-12 17:36 pm
How PKT Cash Provides an Economic Incentive for People to Connect Bandwidth to the Decentralized PKT Network 1
Industry News

How PKT Cash Provides an Economic Incentive for People to Connect Bandwidth to the Decentralized PKT Network

2021-04-12 05:50 am

Follow Us

  • 51k Fans
  • 8.3k Followers

Popular News

  • Ripple price prediction XRP blasts past $1.8392 as bulls relentlessly pursue $2.0

    Ripple price prediction: XRP blasts past $1.8392 as bulls relentlessly pursue $2.0

    1315 shares
    Share 526 Tweet 329
  • DOGE Price Prediction: Dogecoin to the moon, to hit its $0.2 target after safeguarding support

    1298 shares
    Share 519 Tweet 325
  • Cardano price prediction: ADA fails to break above $1.50, what’s next?

    1254 shares
    Share 502 Tweet 314
  • XRP Price Prediction 2021, 2023, 2025, 2030

    1135 shares
    Share 454 Tweet 284
  • Dent Token Prediction for 2021 – 2025

    1029 shares
    Share 411 Tweet 257

Latest News

Polkadot price

Polkadot price prediction: DOT breaks above $44, gears up for $50 next

April 17, 2021
Airbnb CEO congratulates former employee Brian Armstrong on Coinbase success

Airbnb CEO congratulates former employee Brian Armstrong on Coinbase success

April 17, 2021
Chainlink price

Chainlink price prediction: LINK to retest $40.0 support

April 17, 2021
Ripple price

Ripple price prediction: XRP ready to make a breakout above the $1.750 mark

April 17, 2021
Crypto Awards: People's Choice. Best of the Best 2

Crypto Awards: People’s Choice. Best of the Best

April 17, 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

Binance News
Ripple News
Cardano News

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
Sitemap

Exclusive Partners of

Footer 3

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
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Cardano Price
    • Binance Coin 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.