Description: Debt crisis, economic development, finance, banking, housing market, bubble, Europe,
Government have worldwide started a crackdown on Public Digital Currency (“PDC”) to fiat and fiat to PDC’s access points, this crackdown intensified in 2018 and no deceleration of this trend is expected in the near future. Anti-money laundry and terrorist financing are key arguments used by governments.
This does not mean that governments are not interested in cryptocurrencies, the opposite is actually the case. In Europe (led by Bank of England and central bank of Sweden) governments are actively looking into central bank digital currencies (“CBDC”).
With the best intentions of cryptocurrency protagonists in place, we will most likely see the rise and adoption of CBDC by the general public before PDC’s. In time CBDC will likely fail and the general public will potentially resort to PDC’s. I expect that the rise of CBDC will decrease the adoption speed of PDC’s as the general public first needs to witness the abuse of CBDC’s possibilities by governments. This could evolve in the following pattern: