St. Louis Federal Bank researchers Alexander Berentsen and Fabian Schar have published an article that argues that central banks are easy to form their own crypto coins, but it is unreasonable for them to do so.
The title of the article was Electronic Money for Central Banks and Central Banks remained out of Crypto Coins Mak. As a result of the research, it was emphasized that the characteristics of the crypto coins would not fit to the central banks and that the people who made the financial transaction should be known by everyone.
Identity needs to be open to prevent security forces from dealing with drug trafficking, money transfers and money laundering methods related to terrorism. If banks create a Blockchain based system that doesn’t require permission, it doesn’t make sense for them. Therefore, the researchers argued that central administrations would not prefer to develop the so-called anonymous crypto money.
According to researchers, digital currencies printed by central banks may be peer-to-peer (P2P) money transfer systems. But this is more like a centralized electronic money. Therefore, the emergence of crypto coins such as oldukça Fedcoin “is quite pure.
On the other hand, virtual coins existed before Blockchain. In May 2018, Lael Brainard of the FED board of directors said the central bank would not be useful because its digital currency would be too volatile and would not be used as a means of exchange or value storage.
Although the FED is far from digital issues, IMF chief Christine Lagarde said in November that all financial institutions should consider crypto money. Experienced politician and lawyer Lagarde Blockchain stated that the central banks could benefit from Blockchain and crypto coins in the era of digital economy because the technology is safe, cost-effective and potentially semi-anonymous. At the same time, Lagarde said that in many parts of the world, people who cannot reach modern banking can be contacted.