A central bank digital currency can be a safer, stabler cousin of bitcoin – The Times

Bitcoin is the star of the digital currency show, despite serious doubts that it can ever function as a widely accepted means of payment. For one, it remains too volatile. More significantly, the bitcoin network is terrible at transactions.

Bitcoin’s volatility is legendary and does not need revisiting. What is less well known is that blockchain, the platform that underpins the currency, is capable of processing fewer than ten transactions per second. In the same second, the Visa network processes 65,000 transactions.

Aside from these technical shortcomings, the same questions remain about nefarious forces in the bitcoin market: the small number of “whales” that control so much of the digital coin; the organised, anonymised “pump-and-dump” schemes; allegations that the tether “stablecoin” has been used to


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