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Is Bitcoin the heart of a digital currency system?
The bank’s researchers refer to an entitled “The COVID-19 Cash Out” written by Marion Laboure, a macro strategist at Deutsche Bank, Jürgen Braunstein from the Belfer Center for Science and International Affairs at Harvard, and Sachin Silva, a PhD student at Harvard. In the report, they explain that governments increasingly view the handling of cash as a potential source of infection. Therefore, COVID-19 could be a catalyst for the introduction of digital cash, according to Deutsche Bank experts:While Chinese authorities have been destroying banknotes that have potentially come into contact with the coronavirus, Western countries remain woefully behind not just in their response to the pandemic, but also in adopting digital payments. One silver lining to the COVID-19 crisis is that this may soon change.
As CNF yesterday, the Bank for International Settlements (BIS), also known as the “Central Bank of Central Banks”, has released a report that the corona pandemic could promote the elimination of cash and the introduction of digital currencies. A new study by Deutsche Bank researchers also sees COVID-19 as a great opportunity to renew the old currency system by forcing the transition to digital cash.
Remarkably, Deutsche Bank considers that could play a central role. On 3 April, Germany’s largest bank tweeted an image of a Bitcoin symbol at the heart of a digital network linking several fiat currencies such as the euro, US dollar, pound sterling and yen.As the report goes on to say, digital versions of the cash currency, such as the recently announced Swedish e-Krona, are “promising examples of what could come”. However, while commercial banks and central banks around the world are promoting the introduction of a digital currency, experts of the crypto industry are warning about the introduction of a digital US dollar or a digital euro. As Meltem Demirors, Chief Strategy Officer of CoinShares, recently said, they are “the opposite of what crypto is all about”.
作者 : Jake Simmons