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RE: Central Bank Issued Digital Currency Will Not Improve Monetary Policy
He's right. It makes very little sense for state actors to block-chain-ize their fiat currencies if they are not intending to fundamentally change their financial structures and policies. Cryptocurrency as an asset class is not compatible with central banking. You certainly could offer a blockchain alternative to a national currency, but it wouldn't change the underlying value of that currency if it continued to operate according to central banking practices. It might shift certain jobs in accounting and finance, but it wouldn't fundamentally change anything. Electronic exchanges are already recorded and tracked, and, as he points out, blockchain still wouldn't be able to track cash exchanges.
The fiduciary money will disappear sooner or later, so the cryptocurrencies should not improve the fiduciary money, since its mission is to replace it.
Cryptocurrencies not only lower costs in transactions, they would save money production costs both in bills and in currency.
To fight against this is to fight against the inevitable.
Also today a large percentage of the money we use is virtual, since they are only numbers in our bank accounts.
Yes, I agree. But one of the reasons that crypto will displace (to eventually replace) fiat, is that it is much sounder retainer of value. It isn't just money - it's an asset. Fiat does not and cannot function that way
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