Changpeng Zhao: "Digital currencies of the Central Bank should not be isolated from cryptocurrencies" – Bits Media

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Чанпэн Чжао: «цифровые валюты ЦБ не следует изолировать от криптовалют» - Bits Media

The founder of the cryptocurrency exchange of Binance said, that issuers of digital currencies of central banks should not isolate them from the cryptocurrency industry as a whole.

Changpeng Zhao (Changpeng Zhao) 
suggests, that the use of digital currencies of central banks will provide positive impact on the economy. He warns issuers against insulation of digital currency centers. Zhao thinks, that this is an additional tool for governments of different countries, And it would be worse, If it were not.

“Governments and regulatory authorities seek to create their digital currencies, And I warn them against the restrictions on the capabilities of these currencies ", He wrote.

Zhao noted, that the exchange may require permission to use digital currencies of the Central Bank from various jurisdictions for certain types of transactions. Because of that, that the process of obtaining a license for the use of digital currencies of the Central Bank may be quite long, Integration will take more time. Therefore, the founder of Binance sees the undeniable advantages of free cryptocurrencies.

“You cannot find out about the blockchain, Without studying bitcoin. And when you learn about bitcoins, You will learn about the fundamentally necessary properties of money - deficiency, freedom of transactions and low commissions ".

He noted the basic properties of state cryptocurrencies.

  • The first is an unlimited proposal. Central Bank will be able to release them for any amount, What can lead to inflation.

  • Second - users will need a resolution of the Central Bank to use money.

  • Third - high commissions on transactions. They can especially increase in cross -border payments compared to most cryptocurrencies.

  • Fourth - governments can prohibit bitcoin and other independent cryptocurrencies, to support the digital currencies of their central banks.

    • Recently, Zhao called the key requirement for Binance listing is the popularity of the asset in the community. He also does not deny the possibility of listing of state digital currencies.