Central bank digital currencies (CBDCs) and Bitcoin could scarcely be more different. One is permissioned, the other permissionless; one centralized, the other decentralized; one is censorable, the other censorship-resistant. Despite their dissimilarities, CBDCs might just be the best driver yet for Bitcoin adoption.
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CBDCs Are the Best Thing That Could Have Happened to Bitcoin
When JP Morgan unveiled its eponymous stablecoin on Feb. 14, the sound of sniggering could be heard throughout the cryptosphere. Aside from the irony given CEO Jamie Dimon’s previous Bitcoin bashing, there was the notion, advanced by benighted mainstream media, that Jpmcoin, which runs on a permissioned ledger and settles transactions between JP Morgan banks only, presented a threat to…