Bitcoin: The Central Banks will NOT go quietly ...

There is a quiet revolution about to take place in some of the world’s most influential central banks. (1) The heads of some of these most influential central banks will change soon. (2) The central banks are doing a lot of research and testing of crypto-currency related technology.

Changing of the Guard

In February 2018, Yellen’s term as Chair of the FOMC expires and it is unlikely that she will continue. The sitting president is the one who will nominate the next chair and it is highly unlikely that Trump will re-nominate Yellen.

After Yellen, next up will be the Bank of Japan with Haruhiko Kuroda’s term expiring in April 2018. Current headlines indicate that there is a strong likelihood that his term will be renewed as the Japanese government has expressed satisfaction with the BOJ’s policies under Kuroda.

In 2019, the terms for Mark Carney at Bank of England (BOE) and for Mario Draghi at the European Central Bank (ECB) will expire. Due to the bylaws of the ECB which state that the term of the ECB presidency is for an eight-year non-renewable term the ECB has to find a new president and it cannot be Draghi. It remains to be seen what will happen with the BOE Governorship as Carney has been seen as a strong leader.

These central banks are always in the spotlight for headline monetary policy decisions about interest rates and printing money (eg. quantitative easing). These policies have profound impacts on all of our daily lives and the central bank heads have a lot of influence on shaping these policies.

While we were busy looking at interest rates and quantitative easing, this is happening...

In the meantime, there is a steady stream of news coming out on the research that central banks are doing on blockchain, crypto-currencies and distributed ledger technologies (DLT). They are definitely not sitting idly by and are on the contrary, investing quite a bit of time and effort. Initially I wanted to do a deep dive post on what the central banks were doing but was quickly overwhelmed. So, instead I opted just to bring to the forefront the fact that the central banks will definitely not go quietly in the wake of the evolution of currencies and banking technology. It is still too early to tell how these technologies will be folded into monetary policy of central banks. The first roll-outs that we are seeing are mostly around optimizing inter-bank settlement.

Nonetheless, the amount of effort that central banks are putting into this is impressive …. and potentially alarming. Here at The Hutch Report (@thehutchreport and www.thehutchreport.com) we are trying to stay tuned to spot, hopefully earlier than later, who the winners will be, whether it is technology providers that can be invested in, blockchain platforms or crypto-currencies.

Here are just a handful of links referencing what various central banks are doing in regards to DLT, crypto-currencies and blockchain research. I am sure there are many more examples from more countries and central bank. You can see countries and central banks of all sizes are actively working and conducting research ranging from the currently most influential ones including the Fed, China, BOE, BOJ, ECB as well as many others. Interesting to read all the headlines of the FUD about China banning crypto-currency exchanges, Russia cracking down - and yet their central banks are working on competing systems.

Belarus:

Canada:

China:

India’s central bank:

Japan:

Japan (and Europe):

Germany:

Papua New Guinea:

Russia:

Singapore:

United Kingdom:

THRSteemit.jpg

Sort:  

Do not forget one important fact those central banks have already committed to much pain in this world.Now it is too late for them to catch up! The revolution is just beginning and the people want a change around the world. I invite you to read this post I wrote on my crypto blog: https://chesatochi.com/crypto-community-shifting-paradigm/

So true, their policies have now put the whole global geo-economic policies into unchartered territory that seems on the brink of disaster. I will check out your posts!

Yes they have us on the path to omnicide. It will be a debt jubilee or omnicide.. btc is safe exit to keep ALL OF THEM FROM PUBLIC HANGING OR THE PRISON THEY ALL DESERVE.

Lol, well you certainly have a strong opinion on this :)

@cmtzco has voted on behalf of @minnowpond. If you would like to recieve upvotes from minnowpond on all your posts, simply FOLLOW @minnowpond. To be Resteemed to 4k+ followers and upvoted heavier send 0.25SBD to @minnowpond with your posts url as the memo

Remember when you heard 97% of new currencies will fail.. Well look at that list above again. It is the list to short. directly after their EXCLUSIVE ico pump.

m gonna invest in dash coin, can someone guide me is there scope in dash coin or not?

Looks like you have done a lot of research on this article. Excellent post. Will bookmark this in fact. Upvoted and followed you.

This post has received a 1.91 % upvote from @buildawhale thanks to: @thehutchreport. Send at least 0.50 SBD to @buildawhale with a post link in the memo field for a portion of the next vote.

To support our curation initiative, please vote on my owner, @themarkymark, as a Steem Witness

Congratulations @thehutchreport! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

This post was resteemed by @resteembot!
Good Luck!


Curious? Check out:


The @resteembot users are a small but growing community.
Check out the other resteemed posts in resteembot's feed.
Some of them are truly great.