Tuesday 12 November 2019
The former chairman of the US Federal Reserve says there’s no point to central bank digital currencies (CBDC). Speaking at Chinese finance magazine Caijing’s annual conference today in reference to CBDCs, the former chairman Alan Greenspan said: “There’s no point for them to do it,” CNBC reports. Greenspan said that national currencies are backed by all the financial resources of a nation, also known as sovereign credit, and central bodies won’t ever be able to match that. “The fundamental sovereign credit of the United States is far in excess of anything Facebook can imagine,” Greenspan added. It’s a little confusing…
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