Comment on Ecuador Turning to Virtual CurrencyComments−lucb1e12yA monetary authority will be established to regulate the moneyI suppose I should not have been so excited. The title really does read a "virtual" currency and not a cryptography-backed cryptocurrency.This isn't what it sounded like, it's just like Paypal except the government is in charge.−rhino36912yYou can have a cypto currency controlled by a central bank. In fact, we'll probably have them eventually. It would have a lot of the benefits of a cypto, like instantaneous transfer, without the drawbacks like major volatility.
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I suppose I should not have been so excited. The title really does read a "virtual" currency and not a cryptography-backed cryptocurrency.
This isn't what it sounded like, it's just like Paypal except the government is in charge.
You can have a cypto currency controlled by a central bank. In fact, we'll probably have them eventually. It would have a lot of the benefits of a cypto, like instantaneous transfer, without the drawbacks like major volatility.