The ECB wants to create bank-specific digital money to keep up with the Pitcairn

While Bank of England bankers are still watching the potential risks posed by the current banking system, their counterparts across the Atlantic are already preparing to compete with the most popular digital currency. Where a member of the ECB Executive Council, called on commercial banks to implement new solutions that would limit the rapid growth of biotech among users. "Banks should make immediate payments as soon as possible and provide an alternative to the current public debate on the alleged innovation of digital currency schemes," ECB director Yves Mersch said at a meeting in Rome. This supposed alternative to Betcuain may be part of the ECB's digital currency attack, which is known to be investigating "legal restrictions" against its users in areas under the central bank's authority.

While proponents of the rise in the prices of this year's Baitcoin and its adoption in general, as a direct challenge to central banks. Apart from possible future monetary influences, the success of the Betquin indicates the discontent of people dealing with money supply by the Federal Reserve Bank, the European Central Bank and their institutions around the world.

No ECB digital currency so far
The European Central Bank (ECB) director, who suggested in January a model for issuing a central bank digital currency, said the time was not yet ripe for such innovation. And he said:

"We will experiment with different digital technologies with cash. But other applications of the most serious nature are simply not strong enough. "

By focusing strictly on digital currency applications by commercial banks, providing instant transactions and permanent service, Morsch is opposed to the recent trend of central banks in Europe. The Swedish bank Riksbank and the Bank of England have revealed that they are considering options for national currencies or alternatives to bauxite. On the other hand, the main reason for this approach by the ECB is apparently to accommodate member countries such as Germany, where cash use is still very high. "We see from our perspective that the issue of digital money for the central bank is not a realistic option in the foreseeable future," said Karl Ludwig Thiel, a member of Bundesbank's board of directors.