The ECB will discuss bitcoin and blockchain with youth

nRunaway Comment: The key issues to be discussed by the ECB’s Third Youth Dialogue include the encryption of currency and blockchain, and the central bank has started a poll on Twitter for this interactive session to proceed smoothly. There has been a huge deal of controversy over the popularity and volatility of bitcoin, with regulatory oversight around the world a key issue pending and the use of bitcoin in the European payments arena, with Visa debit cards that support Bitcoin being canceled in Europe. Therefore, this conference will exert force on these major issues. The conference’s outcome will surely receive much attention on the impact of existing payment processors and traditional banks.n
nTranslation: Annie_Xun
On February 12, 2018, the ECB President will answer three key questions through a series of videos, including cryptocurrencies and blockchain.n
Mario Draghi will answer the selected questions, including whether Bitcoin can become a substitute for traditional currencies, and evaluate the central bank’s technical perspectives that may be concluded on January 23, 2018. European citizens ages 16 to 35 can also raise questions around three main themes: the possibility of a new global economic crisis, cryptocurrencies and the blockchain, economic recovery in Europe and youth employment.n
The agenda is the third of the European Central Bank’s Youth Dialogue, where youth policy makers often engage in several rounds of dialogue with students and young people of all nationalities and backgrounds.n
To get the conversation out, the ECB has launched a poll on Twitter to see if bitcoin can be a viable alternative to traditional currency. Within 24 hours, polls have received more than 15,500 feedbacks.n
Central Bank with cryptocurrencyn
Although the central bank’s role in digital money has been the focus of debate, the idea that their presence helps ensure economic stability has always been the case.n
Bitcoin volatility has led Lloyd Blankfein, chief investment banker at Goldman Sachs in the US, to criticize it as a tool for fraud, and Luxembourg Finance Minister Pierre Gramegna also pointed out that the EU may soon create new cryptocurrency regulations.n
Adopt the trendn
Sure, 2017 is a crucial year for bitcoin. This year, bitcoin’s global popularity soared with its value, and the cryptocurrency ecosystem gained mainstream media attention.n
Although there is no evidence that such concerns have increased adoption in Europe, the 2017 statistics show that it is still under-utilized as a routine payment method in major European economies.n
Encrypted currency question and answer session for youth dialoguen
However, it is clear that new information in the public domain has affected many people’s perspectives. This will give the ECB some interesting questions and answers, even though perhaps no new focus will emerge.n
The question and answer session was affected by the recent cancellation of Bitcoin Visa debit cards in Europe and the European Union’s regulation of the currency. Worthy of consideration is what the outcome of the discussions at this meeting will mean for countries that are discussing alternative card issuers in Europe and are trying to create a cryptocurrency / legal bank independent of traditional banks.n

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