Why Central Bank Digital Currencies Are Good News For Blockchain Adoption

Central banks are getting into the crypto game; that is a good thing for crypto and blockchain adoption.

Cryptocurrencies are rapidly becoming part of the mainstream investment conversation, but that does not mean that the development of new crypto options is slowing down. Even with the bitcoin halving making news, and the subsequent speculation on the price of bitcoin and other cryptocurrencies, an underlying trend continues to forge ahead. Permissioned blockchains and more centralized crypto options continue to permeate the marketplace, and seem well positioned to lead further adoption and utilization of both blockchain and cryptoassets at large.

One particular iteration of this shift toward increasingly centralized or permissioned options is the potential for a central bank digital currency (CBDC). Seemingly contradictory when compared to the initial idea and spirit of cryptocurrency, there are several reasons why a CBDC…