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“If any of the above real world, national or regional currencies starts losing its value or falls victim to currency speculators or face any other dangers, not only would the central bank which backs that currency will take action to protect it, the government of that nation too would take supportive action too. Cryptocurrencies are not backed by any central bank, government or financial entity. In fact, and as a consequence, cryptocurrencies are viewed by governments and central banks with trepidation, scepticism and intrigue. Cryptocurrencies by their very concept are beyond the purview of traditional governmental-central bank currency framework, though not outside the economy, nor illegal.” — Olawale Daniel
If any of the above real world, national or regional currencies starts losing its value or falls victim to currency speculators or face any other dangers, not only would the central bank which backs that currency will take action to protect it, the government of that nation too would take supportive action too.
Cryptocurrencies are not backed by any central bank, government or financial entity. In fact, and as a consequence, cryptocurrencies are viewed by governments and central banks with trepidation, scepticism and intrigue. Cryptocurrencies by their very concept are beyond the purview of traditional governmental-central bank currency framework, though not outside the economy, nor illegal.