Fed Chairman Supported The Launch of Government Digital Currencies
The chairman of the US Federal Reserve, Jerome Powell, said that it is necessary to launch state-owned digital currencies, which should function together with fiat currencies. According to Powell, government digital currencies should co-exist with cash in innovative payment systems, which will ensure their flexibility. And not only the public, but also the private sector should participate in improving the global payment system. Powell said the Fed's board of governors is experimenting with a state-owned digital currency, along with the Federal Reserve Bank of Boston and the Massachusetts Institute of Technology.
Analysts at Messari have suggested that Ethereum could overtake Bitcoin and become the largest crypto asset after the rollout of the Ethereum 2.0 network and the transition to a proof-of-stake consensus. According to experts, the advantage of Bitcoin over Ethereum as a savings tool is that its currency policy is very predictable, and the blockchain is very secure. With the transition to a new network and a new consensus, Ethereum could potentially become safer than Bitcoin.