BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

Central bank digital currencies could undermine the U.S. dollar’s dominance, says JPMorgan report

The U.S. has the most to lose if central bank digital currencies (CBDC) take off, according to a new report by JPMorgan.
A number of central banks, most prominently China's, are aggressively pursuing CBDC systems. If these currencies are able to get traction, that could undermine America's geopolitical power, argued JPMorgan analysts Josh Younger and Michael Feroli.
The dollar is unlikely to lose its spot as the world's reserve currency any time soon, they argued. But other aspects of the dollar's dominance — including global trade in trade settlement and the SWIFT messaging system — are “more fragile," Younger and Feroli argued in the report, which was first covered by Bloomberg.
“There is no country with more to lose from the disruptive potential of digital currency than the United States,” they wrote. “This revolves primarily around U.S. dollar hegemony. Issuing the global reserve currency and the medium of exchange for international trade in commodities, goods, and services conveys immense advantages.”
If those advantages are lost, Feroli and Younger argued, the U.S. would have a hard time enforcing economic sanctions and policing terrorist financing. The U.S. currently has no plans to issue a CBDC, but the analysts suggested that a "cross-border payments solution built on top of a digital dollar" might be "a very modest investment to protect a key means to project power in the global economy."
They concluded: "For high-income countries and the U.S. in particular, digital currency is an exercise in geopolitical risk management." © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News


Buy Bitcoin online in ANY country, supporting 80+ Payment methods!