This was actually a lot of propaganda than anything else, so the Fed is now leaving the idea of so-called FedCoin. It was with the skyrocketing price of Bitcoin last year, Blockchain seemed like a future, this federal reserve of the United States is generally known as the Fed, who has lost interest in the idea of national cryptocurrencies.
It is according to the Lagarde, everyone wants a place in a brand new cashless world so that the central bank who comes first can achieve the edge. While International Monetary Fund director Christine Lagarde believes that digital currencies emitted by central banks may be a good idea, the Fed disagrees.
However, during 2018 it became clear that it was a great future for the better work and the future was well, this was the future. At the beginning it seemed that Bitcoin is a panacea for all kinds of economic issues. However, after promotion, people have been alerted after the explosion in the bear market for a long time.
Cryptos are not lawsuits for central banks, the Fed believes
This is mostly because of how cryptocurrency works; its structure is considered important red flags. While these FED researchers have determined that banks can easily make crypto, this idea was not considered very good by them.
Apart from this, it would be hypocritical to tell the banks that if the government of India did not implement such a rule. Therefore, making it a national crypto, without any means of recognizing it, is basically an invitation for all types of criminals. For example, its law enforcement will need to be well monitored for who is using the money for whom.
Without it, you simply keep blocking on the road because it is no longer cryptocurrency. You just have a centralized digital currency and nothing more than that. It was also noted that when you withdraw the unencrypted book from the network.
Combined with all its "high operational risk" does not make the whole idea particularly good. It was actually already made by blockbuster Satoshi Nakamoto of the technique of making centralized digital money was already present, so blockchain does not make anything new here. For its centralized money, blockchain is not needed.