Top 5 Cryptos Not Named Bitcoin This Week (Mar 29): XMR, BNB, HT, CRO, BSV
Cointelegraph
Published Apr 05, 2020 12:21PM ET
Updated Apr 05, 2020 02:00PM ET
Consumer attitudes are changing towards banknotes and credit cards as reports suggest that the deadly coronavirus can spread by their use. The Bank of International Settlements (BIS) has, therefore, urged the central banks to consider developing central bank digital currencies (CBDCs). BIS believes that under the current circumstance, CBDCs will quickly gain prominence. However, it has warned that this move could have a “severe impact on unbanked and older consumers.”
Chamath Palihapitiya, the billionaire CEO of venture capital firm Social Capital, believes that the setting is right for Bitcoin (BTC) to shine. However, he does not find Bitcoin as the right candidate to replace the U.S. dollar or other global currencies due to its volatility. Over the next ten years, Palihapitiya said that Bitcoin could be seen as a hedge against the failure of the traditional framework.
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Written By: Cointelegraph
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