SXSW Interactive 2016
Digital Fiat: Exploring State-Sponsored Bitcoins
Bitcoin suffers from some notable shortcomings inherent in its design that have constrained its expansion into the mainstream payments system. Wide-spread adoption will require Bitcoin to address governmental requirements around anti-money laundering and illicit trade, as well as other key concerns such as volatility of value, ease of use challenges. What would happen if we combined the best attributes of the technology of cryptocurrencies with the features of an established fiat currency under the sponsorship of a central bank? The result very well may just be a new method of handling payments - state-sponsored cryptocurrencies - that would revolutionize the current payments ecosystem.
Share this idea
Additional Supporting Materials
- How will the creation of a state-sponsored cryptocurrency affect monetary policies in different countries?
- How will state-sponsored cryptocurrencies disrupt the traditional payments ecosystem?
- How do we go from today's world to a world run on virtual currencies? What are the steps that need to happen?
Christian Ruehling, Sr Associate, Deloitte