Since the Corona era, most people are focusing on digital transactions. In the recent past, there has been a lot of investor interest in digital currencies like bitcoin and dodgecoin etc. in the market. In such a situation, keeping in view the needs of the future, the central bank is also engaged in preparing its own digital currency. This may boost economic growth, but the economist has called it a threat to the privacy of the people. Ishwar Prasad, senior professor of trade policy at Cornell University, believes that if this happens, banks will monitor the currencies used for illegal use. This will track all your transactions.
Professor Prasad said that private companies and central banks can experiment with digital currencies in the future and there is a lot of potential. Individual country governments are developing their own digital currencies, which can give additional credibility to payment systems. This will also increase consumer confidence, but with the use of digital currency, banks will monitor currencies for illegal use and anything can be easily traced digitally. This can also put the privacy of the people at risk. Explain that Prasad is also the author of the upcoming book “The Future of Money: How the Digital Revolution is Transforming Currencies and Finance”. He has mentioned other aspects of digital currency in his book.
Tesla CEO also gave green signal to bitcoin
Some time ago there was a lot of controversy regarding mining of cryptocurrencies. Because of this, Tesla CEO Elon Musk said that he will not accept the cryptocurrency bitcoin to pay for his electric cars. But seeing the increasing interest of investors towards digital currency, Elon Musk has again allowed it to be accepted as payment. His decision led to a sharp jump in the cryptocurrency market.
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