Examination of experts' positions on central bank digital currencies (CBDCs) and stablecoins in the context of financial systems and control.
Robert Sasu on CBDCs and Stablecoins
Robert Sasu, a core developer of multiversX, likened CBDCs to a 'constant colonoscopy,' highlighting that they represent control rather than freedom. Sasu emphasized that politicians, who value their privacy and use cash, ironically promote CBDCs for public use. He supports stablecoins, which he argues restore financial freedom by operating without centralized control. However, he doubts the European Union will adopt this approach, pointing to a need for leadership change.
Criticism from the European Union
CTO Larsson also critiqued the EU's stance, noting that initial regulatory attempts led to the dominance of USD-backed stablecoins. Consequently, Larsson explains, the EU is considering CBDCs as a countermeasure. In a humorous way, Larsson likened stablecoins to enjoying red wine and French baguettes, while comparing CBDCs to a colonoscopy, indicating that stablecoins are easier to use.
Mark Carney’s View on Digital Currencies
With his electoral win, Mark Carney became the Prime Minister of Canada. Carney is critical of cryptocurrencies, especially Bitcoin, citing potential deflationary effects. He also voiced concerns over stablecoins due to tech companies' control. Instead, Carney advocates for CBDCs, arguing they enhance financial stability. Despite his cautious approach to digital assets in the past, global trends may influence his policy.
The ongoing discussion about the role of CBDCs and stablecoins highlights the diversity of expert opinions and the continuing debate over control and freedom in fintech.
