Top Indian Central Banker Says Cryptos Have a Future But Fears Monopoly

[Lenipiw]

A former chief economist of the IMF said neither private digital currencies nor central bank digital currencies should hold a monopoly.
The former governor of Reserve Bank of India, Raghuram Rajan, said that private cryptocurrencies like Bitcoin (BTC) and Facebook’s Libra may have a future even when central banks roll out their own digital currencies.

Rajan, who was also the Chief Economist and Research Director at the International Monetary Fund from 2003–2006, said during a CNBC podcast that one of these digital currencies might only become problematic if it were to hold a monopoly.
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[Delgado]

A monopoly in cryptocurrency, in my opinion, is not beneficial to the monopolists themselves. A monopoly in cryptocurrency will always be threatened by oblivion of his monopoly object. If the cryptocurrency is not available, it will become useless and its price will drop to zero. Therefore, it is no coincidence that the teams of new projects simply send a small amount of their new tokens to various wallets to draw attention to them.

[Astra]

The digital currencies of the central banks of states can and should enjoy a monopoly in their country. Money has always been part of the state. Private and other types of non-government stablecoins, of course, should not have a monopoly in a particular state.