The Currency Analytics
By Ayobami Abiola
August 13th, 2020, Lael Brainard, the governor of the US Federal Reserve Board gave a speech on digital currencies via a webcast.
The board has been conducting researches relating to Distributed Ledger Technology to discover its potentials.
“To enhance the Federal Reserve's understanding of digital currencies, the Federal Reserve Bank of Boston is collaborating with researchers at the Massachusetts Institute of…
She also stated that there is a need for collaborations with and learning from other central banks on issuing a Central Bank Digital Currency (CBDC).
Digibyte founder- Jared Tate in a tweet thread, while reacting and giving his own opinion about this speech, opined that the Federal Reserve should consider using existing and…
“Instead of creating a brand new protocol/ currency its best to use existing/ proven blockchain crypto assets & networks w/ scarce/ finite properties such as #Bitcoin…
He stated that a collection of blockchains should be used to create a Crypto Reserve Fiat (CRF) because no single blockchain can “could handle all the world’s transactions w/ out…
Another point of view of this matter is that, even if the Federal Reserve of any country is able to create a separate blockchain to suit the need for CBDC, the nodes handling…