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Now it is impossible to say for sure whether bitcoin was a government project or not, but all the evidence now indicates that the government is planning to use cryptocurrencies in earnest for its own purposes.
BTCUSD
Even if bitcoin was invented by some mysterious cool mathematical programmer after all, the authorities decided to take the concept and come up with an interesting thing such as a public official cryptocurrency.
By now, such a term no longer shocks anyone. After all, enough time has passed for everyone to get used to the concept of cryptocurrency. Almost everyone has heard about it in the news, and many have used it for their personal purposes. Therefore, the notion of state-owned cryptocurrency is not surprising, and even maintains interest somewhere.
It was reported in May that the Fed chief met with Coinbase exchange CEO Armstrong. The Fed is then releasing a report on the possible creation of an e-dollar. Most interestingly, back in March, Armstrong published a report on the possible listing of a state-owned cryptocurrency on Coinbase.
It all resembles a rather prepared operation to introduce a brand new cryptocurrency from the state. What is the purpose of doing this in the first place?
It has long been clear that a paper money crisis is coming anyway. The huge debts of developed nations, which often exceed the size of the country’s GDP, are very difficult to service and pay off. It is impossible to give up debts, because a default would jeopardize the whole further development of the economy. What can be done? First of all, we should create a strictly regulated state crypto, then start trading on all major exchanges, and then quietly try to merge the price of the paper dollar to the digital one, devaluing it. After all, digital can be made a little better.
A new state-owned cryptocurrency would become the world’s main source of money and solve the problem of debt. Of course, this is an assumption and the prospect of such a situation is only in the distant future.
08.00 German industrial production for May
20.00 US Federal Open Market Committee meeting minutes
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