For me, of all the news that we are processing day by day, there is one in particular that has a high rank that could affect the foundations even of the cryptographic world. Although, it is already known the intentions of closing and systematically pressuring the advance of cryptocurrencies, of those whose decentralization is not only of concept but of action and execution.
Some entities, countries with a centralized system, point towards the digital monetization of their legal anchors under the sponsorship of blockchian technology but with completely different origin concepts from those related to currencies such as Bitcoin (BTC).
The race that began years ago, with China at the head, has in competition with tall titans such as Germany, Austria, the ECB, Russia, Sweden, among others with the creation and launch of their digital currencies, masked in some CBDC, a very divergent concept in the cryptographic world. But even so, it would not focus on its circulation but on the way in which these centralized creations would communicate to interact.
Its existence would not go unnoticed by a single and unfair competition, its objective beyond supplanting part of a fiat system and taking ground from the current reserve of value, such as the dollar, would be to build a system of direct exchange under a tutelage centralized that guides corporations in supplying a controlled demand with these digital tokens, something detrimental to cryptocurrencies.
Beyond not having a space yet complete, the CBDC are gaining a boom beyond the conceptual, and in a period no longer than 4 years we will have some of them already in circulation, waiting to have a diversification that transforms them even into a new reserve of value within this staff of assets that are in the basket of powerful economies.
The path for some cryptos could be affected, or worse, it could even adapt to an exchange parity subtracting the usability and massification that is required for a complete tokenization.
Certainly the CBDC is taking ground and is not being given due attention as a threat to a whole decentralized movement that seeks to take the initiative in the finances of each one of us.
I continue to insist that part of a solution is the innovation that many crypto sources can offer us, beyond Bitcoin as the main reference, the DeFi's and all its adjacent innovation and investment portfolio would help enormously in the attractiveness and understanding of financial freedom to Through unique exchanges and without third parties.
The comments of entities such as the president of the ECB or the head of the Federal Reserve, Jerome Powell, on the "management of potential risks", reinforces the fact that this route represents a serious distortion of what the system is currently, and its appreciation of many cryptos, including stablecoins, has now become "systematically important."
This information is proprietary content and there is no space in this text for plagiarism. You can also see this article on my Publish0x blog under the following link.
https://www.publish0x.com/cryptographic-alchemy/dont-look-back-cbdcs-are-on-the-way-xrygxgg
