The ECB decided to fight bitcoin by creating its own alternative to Banks …

The ECB decided to fight bitcoin by creating its own alternative

Banks need to speed up the process of developing instant payment systems by using which their clients will be able to send transactions in real time. According to a board member of the European Central Bank, only So they are will be able to compete with cryptocurrencies such as bitcoin. About this writes Independent.

While cryptocurrencies continue to gain popularity in quality a tool for making instant payments, some central banks, such as Sweden, are considering possibility launch own analogues.

ECB board member Yves Mersch does not welcome the proliferation of decentralized cryptocurrencies, in connection with than requires central banks to create alternative.

“Banks need to implement instant payments as soon as possible and provide an alternative interpretation in response on schemes using virtual currencies, “he said during a speech in Rome.

how notes Independent, despite the low prevalence among retailers, virtual currencies are viewed by the leadership of central banks as a threat to the banking system and monetary policy.

The ECB decided to fight bitcoin by creating its own alternative to Banks ...

Mersh reported, that the ECB will “experiment with money based on various digital technologies”, but not will be consider the most risky options application such technologies.

“Other risky options that are more revolutionary in his nature, simply not reliable enough, “he said.

A similar points member of the board of the German Federal Bank Karl-Ludwig Thiele, who said that cash is still too popular in Germany, which does not allow considering the option of a complete transition to digital currency.

“The problem of digital money of central banks in Tom, what in our opinion, this option is not realistic for foreseeable future, “he said.

Photo: Yavuz Meyveci