Under the saying “do as I say, not as I do” , the Central Bankers all of a sudden love the efficiency and benefits of cryptos for cross border payments.
Hmmm....isn’t that like using Litecoin instead of Western Union as a use case ?
We are seeing the need for the Central Banks to embrace cryptos — or should we say “their own cyrpto’s”. This means their own digital currencies. The kind that they can print and print, not like a limited supply of Bitcoin. They like to have total control and the printer on high.
I think these Central Banks and Banks have no choice. It’s like a choice between sticking with the “horse and carriage vs a car”. They can see that crypto’s are more efficient than the current system.
This is a big market for Banks and only growing, as you can see in the charts below:
They are looking at several Central Bank Digital Currency (CBDC) Models. More to come.