Yesterday, The European Central Bank released a statement named, “Bitcoin (available on Coinbase) not the answer to a cashless society.” They expressed that next week 20 policymakers would sit down and take a look at Bitcoin (available on Coinbase) and the other cryptocurrencies as they recognize that non-cash payments have doubled, as of late. The European central bank labeled Bitcoin (available on Coinbase) and cryptocurrency a “mirage” but see it as an early sign of potential change.

Now the latest buzz around central banks is; should they consider issuing their own digital coin, in response? This is the current debate among the community. They have tried experimenting with Bitcoin (available on Coinbase) as a means of elecTron (available on Binance)ic payment for wholesale foreign payments and beyond, but it has not shown any sTron (available on Binance)g conclusive benefits over current practices. However, it has showcased the flaw in the current system. The statement reads:

“Despite its many faults, Bitcoin (available on Coinbase) has put the spotlight on an old failing of our current system: cross-border retail payments. Such payments not only permit shoppers to easily buy goods online from overseas, but also allow foreign workers to send money home, supporting financial inclusion and development. However, these payment channels are generally much slower, less transparent and way more expensive than domestic ones.”

While Bitcoin (available on Coinbase) may not be the answer, could another project(s) and coin(s) solve their dilemma?