Dash CEO: Central Bank-Issued Cryptocurrencies Must Happen
The Chief Executive Officer of the Dash Group, Ryan Taylor, believes that cryptocurrencies issued by central banks are a future certainty, but ultimately it’s in the people’s hands to accept or reject the new form of currency into their day-to-day lives.
The market’s response to the bank-issued currencies is unknown, according to Taylor, but there are many advantages that central banks will definitely enjoy because the unrestricted market offers a more creative chance to create money compared to governments.
Governments are facing a lot of pressure to either understand or participate in the cryptocurrency space. This is a result of either curiosity or a genuine desire to keep up with the spinning of the innovative wheel and thus being able to incorporate the best system there is by having their own crypto.
Cryptocurrencies are waiting to ultimately be standardized, with minor nations aiming to implement them first due to lower-risk factors. Ryan expected that the government of the United States of America will take 2019 as a starting point of regulating the crypto space.
Another aspect that governments will study is the safety of cryptocurrencies and how they see the future potential of them being labeled as secure.
Plagiarism accusations have been flying from Joey Zhou, the core developer against Petro’s cryptocurrency, that had white paper similarities to Dash's which, according to him, was not shocking at all. He states that that source codes are open for everyone and it’s hard to say what is actually plagiarism but he found substantial copied portions.
One of the executives at the Bank of Japan claimed that for cryptos to become an actualized digital tool, they need to wipe out fiat money utterly and completely.
Earlier this year, a study done by a European Union's parliament stated that cryptocurrencies issued by central banks might give the space the competition and vigor it needs.