Many enthusiasts of Bitcoin and other cryptocurrencies are motivated by deep skepticism of the central banks that control the world’s money supply. But what if central banks themselves entered the game? What would happen if the Federal Reserve, or the European Central Bank or the Bank of Japan used blockchain technology to create their own virtual currencies? Besides, that is, having some cryptocurrency fans’ heads explode? A former Fed governor — who was also a finalist to lead the central bank — thinks the idea deserves serious consideration.

Source: New York Times May 04, 2018 17:26 UTC