Bitcoin can destroy the central bank?

Bitcoin has been known to almost all levels of people over the last few years. Satoshi established a Bitcoin, but it does not recognize this person as a person. However, the basic process of Bitcoin is that it is a digital currency, which will deal with peer-to-peer transactions, only those who know about this transaction. Thirdly, no other media will work here. The third means refers to the bank or any other recognized person. These can not be calculated at all. There is a medium called blockchain that acts as a laser book for bitcoin. However, it can be provided with privacy as needed. Now the question is, since the money is now being transacted without the bank, then at what time will there be no bank? If a country's central bank controls all the money systems in that country, then what will be the need of the central bank to overcome the success of Bitcoin?

This is a very complex question, because the contribution of a central bank of a country is infinite. The central bank has to work with discretion in the scam of various finance schemes or the confusion of the market. Although in some cases central banks have to be criticized. But central bank has to review the entire economic condition and take any policy decision that will affect all the people of the society.

Before coming to Bitcoin, we need to say something about the central bank. For example, central bank monopoly is monopolized in monetary terms. In a country or the financial crisis of the whole world, the central bank has to take a firm position to overcome the problem. The central bank's role in reducing the global meltdown in 2007 was important, Among the many functions of central banks, the main job is to maintain proper market conditions, to keep the price of goods stable, ensure the security of the banking and financial institutions of a country, to keep the country's economic situation stable during economic crisis, to monitor the country's currency exchange. The central bank does these tasks through monetary policy.

Central banks can raise or lower interest rates, make money or reduce them to do these jobs. This means that if a country's economy is growing rapidly then the prices of goods and services will continue to grow at the same rate. As a result, the common man can not take the goods or services. Then central banks will increase interest rates. It will be a problem for those who want to use the loan for business, because they will have to borrow their loan at a higher interest, and they will have to return it. The central bank may stop paying back money in other banks. In order to take loan from these banks, there will be a lot of interest to be read. If you do this, there will be problems again - theoretically the price of the goods will be reduced. That means if the cost of the money decreases then the price of the goods will be reduced and due to high interest, the business slowdown will be seen. Then the traders can not invest in other places and if there is no hope of profit then there will be a crisis in the job market.

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