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16 November 2019

Central Bank Blockchains and Corporate Ledgers Are Still Vaporware - Bitcoin News

Central Bank Blockchains and Corporate Ledgers Are Still Vaporware - Bitcoin News

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It seems people who believe this absurdity think that just because a blockchain project is backed by Facebook, has a development team and produced a whitepaper it will be better than a network that’s been running for more than a decade.

Commentators and columnists include Bloomberg’s Lionel Laurent who recently wrote that “the future of digital money is being shaped increasingly by national governments.” However, this is not even close to being a reality as a great majority of governments and central banks still don’t understand the technology to this day.

There are a few governments and central banks that have said publicly that they plan to experiment with a digital currency that represents legal tender.

But there’s really only one nation-state so far that has completed this mission and Venezuela’s petro is more like an awful joke.

They want people to believe that nothingness, vaporware, and whitepaper promises will surpass legacy digital currencies that exist in the wild today.

The reason cryptocurrencies matured a great deal faster than most financial concepts is because they remove the need to depend on the state and central banks.

Central banks and governments want you to believe the FUD is so bad that only central planners can succeed.

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