CBDCs are Neo Banks, Crypto gets Centralized
Remember the time when the bankers used to manipulate the govt? Remember how the govt politicians used to bootlick the bankers and the rich people so that they can get elected? That time has slowly changing.
Now that bankers and the rich people are being forced to get on the knees, the politicians are fighting for the CBDCs which means the banks are going to have a hard time. As the money gets centralized and banks become more useless.
In such context you may feel that there is going to be a strong change once the CBDCs come out. But that is not going to happen in an easy way. Slow changes are on the cards.
Let's talk about these changes.
Image Credit: Leo Images
Neo Banks as CBDC
E-naira and the digital rupee are two products out on the market. And they are slowly getting into circulation. And that adoption is not an easy thing. Instead things are kind of harder for most of the nations to bring sustainable way.
Neobanks run on the internet only. And they work under some apps. And so we are going to see them making use of the blockchain. And they are going to be making use of the digital coins. And if things work well then we would be seeing the decline of the traditional banks.
More Centralization
People have this misconception that crypto is winning. On the other hand since the pandemic we have seen more centralization than it can be afforced. So in that context you can see that more centralization can cause more or less issues over the years.
You may not find a single decentralized entity that is challenging the SEC and the US based authority. And that alone can show you how much we are going to get the centralized entity issue in near future. That is going to bite us back.
Each new change in banking and the digital coin is going to have a cost. Some really good changes came up since the 2010 and the crypto has changed our economy too. Some new changes have made life easier but we have to wait for how SEC impact the market.
CBDCs have strong power. And treating them like they are nothing would be like taking more enemies than you can handle. People would be forced to adjust with CBDC but the question remains, how much centralization is coming our way?
Posted Using LeoFinance Alpha