Tony Yates: Digital currencies of central banks do not cost costs and risks – Bits Media

Former senior adviser to England Bank, The Columonist Financial Times considers, that states should not create digital currencies of central banks just for competition with cryptocurrencies.

Tony Yates (Tony Yates) stated, that the usefulness of digital currency central boards Doubt, And the risks are huge. That is, the costs of studying and developing technology are not justified. The expert considers, that the true motives of states, which develop their own digital currency, Suspicious, since they already have digital versions of cash.

Applications about that, that the digital currency of the Central Bank will simplify life to people, It is baseless, I am sure the former state bank. In his opinion, CBDC should be developed, to suppress cryptocurrencies, including decentralized, Such as Bitokin. However, at the same time, cryptocurrencies themselves, According to Yates, do not have sufficient monetary support and are unlikely to resist inflation, Therefore, the struggle would be meaningless.

"I think, that bitcoin does not serve any useful purpose, And carbon emissions during mining can cause an environmental disaster ", - says Yates.

Widespread development and launching projects, dedicated to digital currencies of central banks, The expert says, reflects the anxiety of governments about, that a significant market share will take cryptocurrencies.

Earlier it became known, that the Central Bank of the Russian Federation will begin
Development of a model of using a digital ruble in international calculations already in the first quarter of this year.