So says the (German) Bundesbank.
Bundesbank's Weidmann declares that 'Digital Currencies Will Make The Next Crisis Worse'. In case of bank runs, Central Banks are hampered in their ability to provide liquidity. Weidmann thinks that banks offering 'instant payment abilities' would for an important part negate the desire of the public to use cryptocurrency.
I think that he is wrong on that.
Instant payment is not a defining feature of bitcoin. In fact, the European payment system is already almost 'instant payment' and still we have the rise of Bitcoin.
The unique features of bitcoin are:
- decentralised
- permissionless
- programmable
- non-inflatable
Nothing the banking system has in store.
And bank runs: Who needs a bank if you can be your own bank?