- Central bank-issued cryptocurrencies are inevitable but will take different forms.
- Dash is bullish above $150 while $161 resistance is within reach in the near-term.
Various central banks around the world have expressed interest in launching state-backed digital assets. Countries like India and Kazakhstan are currently toying with the idea of launching central bank issued cryptocurrencies. In fact, Venezuela has already launched its own crypto called Petro. The token is backed by the country’s vast oil reserves. However, other nations around the world and their central banks prefer to stay away the subject of virtual assets.
In a recent interview with Cointelegraph, the chief executive officer of Dash Core Group, Ryan Taylor said that central bank-backed digital assets are an “inevitable future” although it is up to the people to choose the form which money is supposed to take. During the Money 20/20 conference, Taylor told Cointelegraph that central bank issued virtual currencies have advantages both to the countries and the citizens. However, what is not clear is the form the digital assets will take: Taylor stated:
“Free market can ultimately design the better money than the government,” he added, “I do think it’s inevitable. They [governments] all are going “” through either competitors’ pressure or through their own desires “” to launch their own cryptocurrencies. But I don’t think it is where the greatest innovations will occur.”
Dash Core Group CEO believes that governments around the world are going to start regulating the crypto space soon. He reckons that the US is likely to do so as soon as next year.
Dash (DASH) price overview
The 13th largest crypto in the market is currently correcting higher on the day with a 2% rise. The asset has a market cap of $1.3 billion and a 24-hour exchange volume of $113 billion. Dash is bullish today amid the widespread low trading activity. DASH/USD is trading at $158.19 although it has retreated from the intraday highs of $161.61. The buyers a seeking a support at $158.00 while the trend regaining strength following the bearish correction. The MACD is in the positive region and the RSI is ranging at 58.33%. DASH /USD is poised for an upswing that could break the resistance at $161 and approach the levels around $170 in readiness for an attack on $200.
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