Meltem Demirors on Bitcoin: Entirely opposite entity from CBDC

Meltem Demirors on Bitcoin

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In her podcast, CoinShares Chief Strategy Officer (CSO) Meltem Demirors said that central bank digital currencies (CBDCs) are included in a long narrative centered on crypto and digital assets which are on another side of the spectrum from Bitcoin as the two could be entirely opposite entities.

Demirors who hosts a weekly podcast that explores the intersection of finance, history, and technology, gave an account in her last release of the evolution of crypto from Bitcoin to Ethereum, and also talked about ICOs and stablecoins.

She believes that the government’s approach to CBDC is the same as how fiat currencies are administered. She said in her podcast that currently, the government would deploy all resources to make the innovation technology however, it also works how fiat currencies are managed.

Gladstein supports Meltem Demirors on Bitcoin

As many countries are following the path of China to start processing their own CBDC and observe for now how it will fare, Coin Shares CSO mentioned that the platform through which payments are made alongside identity would encourage Central banks to enhance policies more effectively pertaining to monetary and fiscal issues.

Human Rights Foundation’s Alex Gladstein also shares the same point as Demirors’. Gladstein, in a recent article, mentioned that China’s blockchain will be highly centralized to ensure maximum control as they are to be used for improved surveillance and social engineering.

Meltem Demirors on Bitcoin flipside

Meltem Demirors opines that the landscape for CBDC has changed over the last few months while participating in the World Economic Forum Blockchain Council. 

With China at the forefront of blockchain and CBDC, other countries are taking active measures to catch up with them. Bank of Japan, European Central Bank stakeholders have all scheduled to meet in April 2020 to see how they can launch their own CBDC.

meltem demirors on bitcoin

In the same light, recently US federal reserve Label Brainard mentioned that the body is weighing the potentials of digital dollars and partnering with other central banks to get to know more about the CBDC.

In her tweets, Meltem Demirors on Bitcoin is unequivocal.

Featured Image by Pixabay

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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.

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