European Central Bank to Discuss Bitcoin and Blockchain Technology

European Central Bank to Discuss Bitcoin and Blockchain Technology

One of the three main questions that the President of the European central bank will be answering through some of movies on February 12, is about cryptocurrencies and Blockchain. Mario Draghi will respond to the chosen questions, whether Bitcoin offers a possible opportunity to traditional currencies in addition to comment on the European central bank’s view on its technology, supplied they’re submitted by January 23. Europeans aged among sixteen and thirty-five can ask questions around three main topics: opportunity of a new worldwide financial crisis, cryptocurrencies and Blockchain, Europe’s financial recovery and youth unemployment

The session is a part of the European central bank’s third talk, which typically constitutes a sequence of talks held by the bank’s policymakers with students and younger people from unique nations and backgrounds. As a prelude to the session, the European central bank has released a Twitter opinion poll to ask if Bitcoin could provide a possible opportunity to conventional currencies. The poll by Europe’s top bank has obtained more than 15500 responses in almost one day.

European Central Bank

While the position of central banks within the cryptocurrency world has been a subject of discussion, the view that they exist to assist ensure balance for economies nevertheless stands. Bitcoin’s volatility has earned criticism of being a vehicle for perpetrating fraud from the likes of Lloyd Blankfein, the chief executive of the United States funding financial institution Goldman Sachs. Luxembourg’s Finance Minister, Pierre Gramegna additionally noted that the European Union could soon introduce new cryptocurrency policies.

What is obvious is that 2017 was an important 12 months for Bitcoin. Main cryptocurrency soared in popularity globally as its value rose sharply, even as crypto received mainstream media’s interest. Although there’s no proof, such attention raised its adoption in Europe, available statistical information about 2017 indicates that its use as an each-day payment method in main European economies remains minimal.

Bitcoin

However, it is obvious that new data has been dropped into the general public domain for plenty people to sort on their own. It need to make the European central bank’s Q&A session to be an exciting watch despite the fact that nothing new is predicted.

The session is coming within the wake of the latest suspension of Visa debit cards backed by Bitcoin in Europe and proposed creation of European Union huge regulation on such currencies. It’s additionally worth wondering what the outcome could imply for the affected payment processors who’re reportedly in talks with alternate card issuers in Europe and for those seeking to set up a cryptocurrencies bank that would be unbiased of traditional banks.

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