Yves mersch bitcoin exchange rate
Follow us on Twitter or join our Telegram. It's no secret that central banks yves mersch bitcoin exchange rate exactly the biggest fans of cryptocurrency. But was he right? He highlighted the greater speed of the Bank's new system, which is due to "commence operations" in November Mersch was asked whether the ECB might ever consider using a blockchain-based system instead of the incoming TIPS, which will allow European banks and customers to transfer money in real time.
We have a mandate for efficient payment systems, and we go for efficiency. While it's not controversial to argue that blockchains are potentially disruptive in legal and governmental terms as Mersch also doesit's highly debatable as to whether speed and cheapness alone make TIPS 'better' than the blockchain. In fact, according to blockchain analyst and founder of the Digiconomist blog Alex de Vries, it's misleading to say that TIPS is faster than 'the' blockchain, since there are numerous blockchains in operation and under development.
De Vries also points out that the comparison between the ECB's TIPS system and the blockchain isn't a yves mersch bitcoin exchange rate appropriate or meaningful one, since the two technologies are fundamentally dissimilar.
De Vries adds that it was already common knowledge that centralised systems such as TIPS are more efficient than blockchains. Yet because they're centralised, "You also get the "single point of failures" that go along with that," he says. The latter mainly offers a distributed and immutable single source of truth.
TIPS isn't competing with that yves mersch bitcoin exchange rate any way. Such strengths of the blockchain underline how, contrary to Mersch's insinuation that TIPS is 'better,' the TIPS system and distributed ledgers aren't really comparable.
Yet even though Davies concedes that older blockchains are generally slower than the ECB's new settlement system, progress is being made all the time in developing distributed ledgers that are secure, distributed and fast.
It's misleading to say that TIPS is faster, since there are numerous blockchains. Misleading statement In fact, according to blockchain analyst and founder of the Digiconomist blog Yves mersch bitcoin exchange rate de Vries, it's misleading to say that TIPS is faster than 'the' blockchain, since there are numerous blockchains in operation and under development.
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