Central bank digital currency could 'threaten' Bitcoin
Thursday, 10 22 2020, Category: Technology, Country: World
Changpeng Zhao, the enigmatic chief executive of Binance, believes a central bank digital currency that’s designed well enough could become a threat to Bitcoin.
In a video interview with Fortune senior writer Jeff Roberts, he was asked how the People’s Bank of China’s digital yuan initiative would affect the crypto industry.
Zhao responded that any blockchain or digital currency would be good for the industry overall as it legitimizes digital assets and broadens awareness. He added that while there is currently a race between major countries to launch one, most CBDCs are likely to be more restrictive initially but will evolve over time.