Money20/20 Europe

Central banks are not having an easy time with the crypto question. The global CrypoAsset maket is estimated to be in excess of $500 BUSD. Cryptocurrencies have now been joined by Crytotokens, which have proven popular for funding new venture through Initial Coin Offerings (ICOs) There are over 1500 Cryptocurrencies currently in issue, with Bitcoin, Ether and Ripple comprising the top 3. Bitcoin gained another sustained period of global prominence and in 2017 with is price rising from 2,000 USD per BTC in June to 19,000 USD per BTC by Dec, an 850% increase driven by speculation. In the autumn of 2017, CME and CBO both launched Bitcoin managed futures. Cryptocurrencies are algorithmically generated through a Hash algorithm, and reside on decentralized networks on the blockchain or distributed ledger technologies. This is where many of the differences between cryptocurrencies begin: some are on public networks, some private, some have limited total supply, some no maximum supply limit, some are free floating, some are pegged to fiat currencies or commodities. What role do Cryptocurrencies play in society and what is their future? Is there a job for Cryptocurrencies in Central Banks, and if so what job is that? What is the future of Cryptocurrencies, digital currencies, and cash?Central banks are not having an easy time with the crypto question, and nor should they; it’s one of the most complex issues we face as a global economy. So what’s the right approach? Should they start buying speculatively to protect against deflation? Do they regulate it as fiat, or is launching a national coin the right approach?