Will cryptocurrencies trash cash? ‘Fedcoin’ could do it
“The cryptocurrency hype train obviously has no brakes. But could it eventually replace cash in the US? According to the thinking of economists cited by the Bank for International Settlements, it just might. And to the chagrin of the anti-establishment types that fueled bitcoin’s early rise, it will likely be run by the Federal Reserve.
Alternatives, such as the US dollar and gold bullion, have faded in stature as prices have fallen all year while bitcoin has pushed near $6,000 over the past week. Both China and Russia are exploring the use of blockchain technology to create their own, state-backed cryptocurrencies. A recent Bank of America Merrill Lynch fund manager survey showed “long bitcoin” as one of the most popular trades on Wall Street right now…”
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http://www.impactlab.net/2017/12/01/will-cryptocurrencies-trash-cash-fedcoin-could-do-it/
