/ TAG Cryptocurrency

With Wall Street slowly taking charge of crypto, the days of radical outsiders launching successful altcoins may be numbered.

The rapid pace and sheer scale of innovation in digital currencies and mobile payments indicates that a monetary revolution is forthcoming. The choice for governments and central banks is whether to stand in front of a train that is gaining steam, or get on board and reap the benefits.

Barry Eichengreen says that it’s no surprise that Facebook’s proposed “stablecoin” appears to be unraveling before its launch.

At this point, the protocols that support the web are relatively well-defined. The protocols that will shape widespread blockchain adoption, however, are still up for grabs.

Experts see Facebook’s Libra cryptocurrency as a threat to central banks and believe it may be banned.