>
Children & Firearms: Definitions and Demographics Make all the Difference
'Its The Economy, Stupid!' Black And Hispanic Voters Embrace Trump On Economics And Well-Bei
We Need To Do With the State What We'Ve Done With Slavery
Is the 'Housing Shortage' the Result of Housing-Hoarding by the Wealthy?
Blazing bits transmitted 4.5 million times faster than broadband
Scientists Close To Controlling All Genetic Material On Earth
Doodle to reality: World's 1st nuclear fusion-powered electric propulsion drive
Phase-change concrete melts snow and ice without salt or shovels
You Won't Want To Miss THIS During The Total Solar Eclipse (3D Eclipse Timeline And Viewing Tips
China Room Temperature Superconductor Researcher Had Experiments to Refute Critics
5 video games we wanna smell, now that it's kinda possible with GameScent
Unpowered cargo gliders on tow ropes promise 65% cheaper air freight
Wyoming A Finalist For Factory To Build Portable Micro-Nuclear Plants
2019 saw the adoption of blockchain go through the roof, with many global economies figuring out regulations and announcing their own centrally-backed digital currencies. However, according to former U.S. Federal Reserve Chairman Alan Greenspan, there is no need for a digital currency issued by central banks at all.
Greenspan, who attended the Chinese finance magazine Caijing's annual Economic Outlook Conference, said that there was "no point for them to do it." The former Chairman noted that national currencies are backed by sovereign credit, something that no other organization could offer.
While talking about sovereign credit, Greenspan also took a shot at Facebook's Libra and said,
"The fundamental sovereign credit of the United States is far in excess of anything Facebook can imagine."
Libra entered the market with a bang. However, it could not resist regulatory pressures and its launch has since been postponed. Alas, the project did influence China, with the country now set to lead the blockchain revolution with its own central bank-issued digital currency.
Greenspan's views run contrary to the views of many banking officials across the world. Philadelphia's Federal Reserve President Patrick Harker for instance, claimed that central banks will issue their own digital currencies, calling it inevitable.