CBDCs can legitimize risk in the crypto space

Central bank digital assets can legitimize risk in the crypto space, says Standard Chartered’s Geoff Kendrick

Central bank digital assets are becoming really important for the crypto ecosystem. There are now a number of central banks around the world that are looking into them. The Bank of England in the U.K., for example, where I myself have been doing a lot of consultation work, expects to roll out its own digital asset within around two years from now.

If and when we have, for example, a Bank of England digital asset, that will legitimize some of the private sector stablecoins, working to then legitimize the broader risk space within crypto. That will probably also help lower volatility in the likes of Ethereum and Bitcoin as well.

All of which is a fairly obvious and predictable outlook of a major bankster, but rather begs the question:"what's the point?"

On the one hand, there will (hopefully) be better, more robust, Defi algorithms, but if the whole ecosystem is based on the same central-bankster money-presses, then the only thing achieved is... the control of programmable money - your money. Well, not yours, just pretending to be yours until you do something naughty.

"Managing risk" is bankster-speak for skating on the edge of bankruptcy until the next cycle of the predator-prey feast of gorging.