New Zealand Central Bank said: digital currency may replace cash

New Zealand Central Bank said: digital currency may replace cash

Geoff Bascand, deputy governor of the Bank of New Zealand electronic money is described as “the form and origin of the challenge, said encryption currency may take the cash.
Bascand added that other digital currency bitcoin as payment and savings substitute. But bitcoin still has some disadvantages, such as the volatility of the quantity and price of the enterprises to accept.   
At the same time, the central bank should not suffer. On the contrary, they should follow the development of things, and exert their regulatory role. In this way, they will keep up with the development of technology and the growing demand for.  

The Central Bank of New Zealand and Australia in the last year of electronic currency issued a risk warning, in addition, the development of regulatory agencies has taken corresponding measures to suppress or control the bitcoin economy in this region.  

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