Crypto vs CBDCs - here's why Australian Central Bank Governor Prefers Privately Issued Tokens Over CBDCs

avatar


src

For starters, it's a crazy comparison to make, putting up a system that just tries to copy an idea of a pre-existing structure just to buy out the industry, when it does literally nothing to measure up to its standards, that's just crazy.

Regardless of how people put it, or self-claimed financial advisors, economists, or whatever name they want to call themselves, CBDCs will always be fiat built on another layer of bigger lies.

Secondly, I feel it's important to understand that regardless of which government body support it and which doesn't, it's not based upon their assertions that truth is drawn, important to note.

Cryptocurrency has opened up the growing population to a wide range of opportunities, this isn't something easily counted by numbers, but I'd say it's one factor that keeps many populations going. When we look at the industry in the eyes of monetization, there has been a number of deployed structures to enhance this process.

Blockchain gaming serves as a huge example, the reason is that it's the least industry anyone would have expected to attract that many developments. If we look at Defi and content monetization, we see some sort of competition coming from the traditional finance section, with the numerous centralized finance institutes, there's a fair level of expectations.

Though this doesn't dispute the fact that TradeFi is nothing like Defi and content monetization on the blockchain has a new feel to it, but when we look at the gaming sector, it's a crazy level of development.

Play-to-spend structures populated the markets, having no user incentives before the grand takeover, it's obvious that we're in the early stages for its potential to be realized, we're moving into an economy where people stop being used without incentives.


Inflation? Volatility? Let's Defi those coins then.


I know, nobody says that, but here's the idea with cryptocurrency that CBDCs are far from actualizing. Currently, it's almost impossible to scroll anywhere without seeing one post about inflation.

The state of the economy is a hot mess, and will always be provided the world refuses to take shift away from centralized money. Fiat is a disaster and its one point of failure comes from the fact that a circle of jerks controls its existence, this is the worst kind of value depreciation framework, I mean when we experience volatility in the cryptocurrency space, there isn't one body to point fingers to, this is the idea of free and individually traded markets.

People whine about volatility when they literally create it but keep shut mouths when the Feds manipulate their income value? How dumb can people be? Not dumb enough I suppose.

The amazing thing about crypto is that for every shortcoming, there's always a structure to handle its effects. This is where Defi comes in, the Australian Central Bank Governor believes this should be regulated instead of issuing CBDCs, this is because he knows it's an expensive joke and his peers seems to agree

But you know what I can't quite put a finger on? What's more funny, CBDCs or the fact that he even thinks about regulating Defi. Defi is built to bypass these centralized powers and offer a medium of sustainability when the markets tumble under selling pressure. I see this as the primary function of the industry, and so far, I'd say it's been a huge success.

In a couple of years, it will not matter who bought or sold, who supported CBDCs and who didn't, all that will matter is that cryptocurrency should have ushered us into an economy with enormous opportunities for growth.

Posted Using LeoFinance Beta



0
0
0.000
0 comments