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Libra And A Speculation on Digital Currency

Libra And A Speculation on Digital Currency

In a more speculative post, we’re going to briefly talk about the idea of country digital currency. Libra, Facebook’s new creation, is causing a large stir in a lot of places—but it’s perhaps asking a new question: should countries be working on creating digital currency systems now, to prevent the native currency being affected too much by things like Libra?

Now, I need to make clear that this writer is not an economist, nor an expert in the fields involved, but, I’m sure anyone can see the potential impact that counties attempting to make their own crypto, essentially, can cause, and how it will affect both the existing currency, and things like Bitcoin.

Certainly, as it always does, technology is going to march on, regardless of what the government of any country does—but will their attempts cause things to change? Their infrastructure, will it be as safe as crypto? And will a new height of currency exchange come about as all the various cryptos play in the same space as this new currency? Furthermore, as something like this will require servers upon servers, how much will countries take influence from existing mining rigs and systems?

Again, this is a much more speculative post than some—but, crypto is changing the world just by its rising interest among bigger and bigger players, and it is going to cause commerce and money, as we know it, to be irrevocably changed.

By |2019-10-09T02:48:19+00:00October 9th, 2019|DFN COLUMNIST|0 Comments

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