Central banks are centralised- Cryptocurrencies are decentralised. It’s no wonder the banks aren’t big fans. There is little awareness of the flaws inherent in the central banking system. People only know that they have to pay more and more tax every year and that rises in the cost of living are running ahead of wages.
They somehow believe this will all get better. But anyone who has looked at central banking and the disasters it has wreaked knows that it is not a self-correcting entity. Flaws only get worse.
What to do?
I’m sure the good people in the European Central Bank believe they have the answers but they are fighting against logic. Economics can’t be “fixed” by printing money or tinkering with interest rates. These are tactics but they are not strategies.
The central bankers are only starting to become aware that the blockchain can eradicate most of the costs and delays associated with their system.
They would like to see the blockchain stopped in its tracks but they are almost powerless to stop it. The solution is too beneficial to society and it is gaining ground fast.