Agustin Carstens, head of the Bank for International Settlements (BIS) which acts as the bank of central banks, has stated bitcoin took them by surprise. “We are trying to avoid being surprised by innovation, as we were with bitcoin and Libra.” “Events with Libra have been a wake-up call for central banks.
We central bankers were in a comfort zone, but Libra showed we needed to change. So, there has been a lot of consulting and debate with Facebook, and ourselves,” Carstens said.
The invention of Bitcoin has opened the eyes of many tech giants to the idea of a digital currency and it’s benefits. When Bitcoin was launched, nobody believed that it will thrive as it is doing today which has attracted many investors to the cryptocurrency circle.
Big brands like Facebook and Telegram are already working on their own digital currencies though with little pressure from SEC and concerned bodies.