Feb 23, 2022 (AB Digital via COMTEX) -- New York, New York - Feb 23, 2022 - Cryptocurrencies will play a significant role in the future financial system. The Federal Reserve has stated that it supports a comprehensive regulatory framework for stablecoins and is investigating a central bank digital currency, suggesting that cryptocurrencies will be important in the future economic system.
To put it simply, this implies that central banks, regulators, and the financial sector are all at risk for significant change. These changes may bring many benefits while also posing new and immediate risks. To economists, the advantages of RoRaP and RoRaG stablecoins include cheaper, more secure, real-time, and competitive payments than those currently available. They may rapidly lower costs for firms while also making the administration of cash transfer programs easier for governments and asset holders.
So how should central banks and regulators respond to such rapid growth in this sector? There are three ways to increase money appeal to the strengths of both the public and private sectors. They're distinct yet not mutually exclusive, and they each have significant potential for established financial companies and fintech and crypto startups. These possibilities will lead to more cooperation between old and new players and rivalry.
Blockchain technology has the potential to transform the market structure and increase competition. CDBC rails are one approach to effect this, and they may be the only way to ensure that consumers have direct access to central bank money. However, CBDCs are unlikely to appear swiftly, and there is a high chance that they will be less programmable.
Moreover, a far more effective mix would be for the public sector to start with the regulation of stablecoins and then later CBDC issuance on multiple tracks to complement potential flaws that occur from nefarious actors in the private sector... This approach would satisfy consumer and business demands faster, resulting in the birth of a new era of financial institutions within their frameworks.
About RoRa Holdings:
RoRa Holdings is a collection of disruptors who have embraced blockchain technology in order to identify and eliminate the existing inefficiencies and outdated processes that have plagued previous models. The firm was founded by bankers, cryptocurrency specialists, Fintech consultants, and other alternative investment experts. RoRa Holdings is paving the way for digital monetization, allowing asset holders and financial institutions to buy and profit from stable coins and gold coins for their assets. Our objective is to provide 1 million investors and high-quality asset holders the opportunity to benefit from the economic prosperity that a blockchain future promises.
Company Name: RoRa Holdings
Contact Person: Alessandro Dos Santos
Email: Send Email
Address:Av. Ejercito Nacional Mexicano 453, Chapultepec Morales, Granada, Miguel Hidalgo
City: 1 1520 Ciudad de Mexico, CDMX