Sport Morgan Stanley: State digital money No danger to crypto currencies

01:40  14 april  2021
01:40  14 april  2021 Source:   t3n.de

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Morgan Stanley's Chief Volkswirt Chetan Ahya sees no competition for Krypto assets such as Bitcoin and others in the digital currencies of the National Central Banks. The application purposes are too different.

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Chetan Ahya and his analyst team at Morgan Stanley remain left when it comes to the so-called CDBC (Central Bank Digital Currency), ie the digital currencies issued by central banks. While the width is not yet, but specifically, according to the Bank for International Settlements (BIS), 86 percent of central banks worldwide worldwide on the implementation of appropriate concepts.

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CDBC rather means of payment, Krypto rather asset

in some countries of the earth, especially in the People's Republic of China, are CBDC already in the test phase. Also in Ukraine, Uruguay, Ecuador, Chile, Sweden and Korea run pilot projects of different sizes. The nationwide introduction should be a few more years.

for crypto courses resulted in a negative effect through digital currencies of central banks, the financial experts in a report published on Monday reported from the Business Insider .

Morgan Stanley justifies this assessment that CBDC and crypto currencies serve different purposes and have different incentives. Above all, CDBC served to receive and make payments - the way it can be Fiat currencies.

crypto currencies, on the other hand, would be used as "value storage", as asset, and were not intended for daily payment transactions. That would be theoretically possible, but above all because of the high volatility of the crypto currencies as a contrainuctive application.

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So crypto currencies would not be seen as an alternative to real or digital Fiat currencies, but rather as a method to protect against their value losses. Accordingly, in Bitcoin and Co, more than in securities are invested.

CBDC No "Kryptonit" for Crypt Dietes

Thus, the assessment of the financial experts from Morgan Stanley deviates from the other funds. The Bank of America had even referred to CDBC as "Kryptonit" for crypto feeds. Kryptonite is a fictional metal used in the DC comics around Superman to destroy the forces of the Comic hero.

Morgan Stanley sees the competition of the CBDC rather in so-called stable coins , ie crypto feeds covered with real assets, as it would be the case for the planned Facebook currency diem (formerly Libra ).

Similar to Morgan Stanley, positions itself the European Central Bank . Even the guardians of the euro look more speculative assets in crypto currencies.

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