The President of the European Central Bank (ECB), Mario Draghi, will be answering different questions using videos on February the 12th 2018. One of these videos will be about cryptocurrencies and blockchain technology. These topics have been mentioned by the European Central Bank in different occasions.
Mario Draghi’s New Approach Method
The ECB president will answer pre-selected questions whether Bitcoin is a viable alternative to fiat currencies or not. Besides that, he will also explain the ECB’s view on the subject and comment about Blockchain technology.
The questions can be submitted by Tuesday, January 23. All Europeans between 16 and 35 will be able to ask question about the possibility of a new global economic crisis, cryptocurrencies and blockchain technology, and Europe’s economic recovery and youth unemployment.
These videos will be part of the ECB Youth Dialogue. These are a series of talks that the ECB policymakers held with students and young people from different countries and backgrounds.
The ECB explains it as follows:
“We want to strengthen the dialogue between us and Europe’s youth. ECB Youth Dialogues give us an opportunity to hear and discuss your views on key topics in the field of economics and central banking.”
European Central Bank and Cryptocurrencies
This is not the first time that the European Central Bank gives comments and thoughts about cryptocurrencies. In general, most of them were in a negative way about them, but trying to leave an open door to analyse them as something positive for the economy.
When Estonia wanted to issue its own currency, the ECB warned the Baltic country saying that Eurozone countries have only one currency known as the Euro. Moreover, according to Draghi, it is pre-mature to consider cryptocurrencies as a means of payment because they are fragile and have several side risks.
In the same line, Bloomberg has reported that Vitor Costancio, European Central Bank’s Vice President, said that ‘Bitcoin is an instrument of speculation but certainly not a currency. We do not see it as a threat to central banking or monetary policy.’