Central banks should not try to solve a problem they are too challenged to comprehend
02 August 2021 - 14:03
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Gravity existed, whether an apple fell on Newton’s head or not! Likewise, the world has always had a common currency; it is called information. It is why decentralising money supply, as cryptocurrencies do, is a natural (if not scientific) thing to do.
Perhaps central banks should come to terms with the fact that they are relics of money’s past, rather than trying to solve a problem they are too challenged to comprehend.
Mpho Tjabane, Johannesburg
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Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
LETTER: Decentralising money supply is natural
Central banks should not try to solve a problem they are too challenged to comprehend
Simi Siwisa writes that “one challenge is to figure out how to make different central bank digital currencies interact with one another” (“Countries must work together to regulate and optimise cryptocurrencies”, July 28).
Gravity existed, whether an apple fell on Newton’s head or not! Likewise, the world has always had a common currency; it is called information. It is why decentralising money supply, as cryptocurrencies do, is a natural (if not scientific) thing to do.
Perhaps central banks should come to terms with the fact that they are relics of money’s past, rather than trying to solve a problem they are too challenged to comprehend.
Mpho Tjabane, Johannesburg
JOIN THE DISCUSSION: Send us an e-mail with your comments. Letters of more than 300 words will be edited for length. Send your letter by e-mail to letters@businesslive.co.za. Anonymous correspondence will not be published. Writers should include a daytime telephone number.
Countries must work together to regulate and optimise cryptocurrencies
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