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[Horia_10]

The Central bank that had firstly announced to start the Cbdc plans for the country and implement them by the year have now changed stance and have said that additional testing and analysis is needed for final launching

Meanwhile Governor Rosanna Costa said it should be able to operate both online and offline before being integrated into the country's financial network and also hinted that the system will allow the banking sector to track all transactions using their particular alias sender details and the receivers final details and withdrawal methods used for the transactions as well providing blocking solutions for the bank when needed .

 

[microunit]

Testing is really important for anything before launching to avoid losses during the launch and to ensure that everything is fine and good to go without any glitches or bugs that could happen, they could even do a soft launch to add more testing with it as to ensure that everything is fine, after all troubles sometimes comes unexpectedly

 

[Wisdom01]

they really needs to get things put in together before launching ,most especially the security protocol and others , because it's a long fact that it's possible for the project to get issues and others , it's the reason they need to work on an upgrade atkeast to boost things up too I think

 

[gammarays]

With the fast pace the adoption is taking, it's visible even to everyone that the world is ready to fully move on to the next financial sphere. The present system is cumbersome and outdated. Crypto has brought with it a more advanced and reliable system.

 

[Horia_10]

More countries are trying their luck with cbdc as the believe that digital payments will save them the fees that occurs in bank transfers and the transactions will happen faster as well , So the importance of an CbdC is huge and can not be ignored at all actually .

 

[btaliat]

To be honest, I don't see wise finacial reason why countries are motivated with to be creating Central Bank Digital Currency. The fact is that the coin has not succeeded in any country. Then why trying to still be adopting it. It is just a mere jealous of crypto that is pushing more countries into it.

 

[Wisdom01]

More countries are trying their luck with cbdc as the believe that digital payments will save them the fees that occurs in bank transfers and the transactions will happen faster as well , So the importance of an CbdC is huge and can not be ignored at all actually .

The importance of cbdc is really huge ,but some countries are not focusing on improving it or giving it more importance and value , they are only interested in countering the development of Bitcoin and this could actually bring up a bad development for Bitcoin to succeed , so that's what I noticed

 

[magnus2022]

CBDC is a byproduct of cryptocurrency and will not be able to overtake crypto. CBDC is under government control and protocol is highly centralized. Cryptocurrency is decentralized and that is the major advantage of cryptocurrency over CBDC. There is need to verify and make sure everything is working fine before launching . I think it is more important than all the process put together.

 

[Horia_10]

Agreed and the dominance is strong countries want to show that they can suppress bitcoin and at any stage too as well bitcoin which has fluctuated slightly has almost remained stable for 3 days almost now and the value seems to be stable but only until new rate hike and fed news affecting it actually .

 

[BullyMaguire]

CBDC is a byproduct of cryptocurrency and will not be able to overtake crypto. CBDC is under government control and protocol is highly centralized. Cryptocurrency is decentralized and that is the major advantage of cryptocurrency over CBDC. There is need to verify and make sure everything is working fine before launching . I think it is more important than all the process put together.

There's no way it can ever top crypto currency.. first it wasn't going to be volatile which is one reason why people invest in coins such bitcoin and not to USDT like stablecoins. Digital currency from countries may be ideal to be use instead of stable coins though.. to directly convert crypto to fiat

 

[Horia_10]

That's Right Stable Coins are not fully backed as we have always seen so this option will be much better vs fiat as it will have the backing of the issuing authority and so Crypto to Cbdc and Vice Versa would be good option to Use for the traders actually to make profits from the markets .

 

[Wisdom01]

Agreed and the dominance is strong countries want to show that they can suppress bitcoin and at any stage too as well bitcoin which has fluctuated slightly has almost remained stable for 3 days almost now and the value seems to be stable but only until new rate hike and fed news affecting it actually .

Although I think they might try to suppress , but I think for sure many are still going to keep investing into Bitcoin ,I don't think anything is going to stop them ,some people would be readily available to adopt Bitcoin ,they have seen the potential Bitcoin has and would gladly adopt it more

 

[Horia_10]

Yes the dominance in the market will always remain strong for btc than any other coin that is why it is necessary to make sure that you have invested at least 40% of your Crypto portfolio in it , altcoins are more volatile so they are second better thanbtc actually .