zerohedge.com / by Huw van Steenis via The FT / Sep 11, 2017
How technology disrupts the payments system gives policymakers pause for thought…
Few issues in central banking are more likely to provoke anxiety than the fear of losing control of one’s currency.
The past few days have provided another perfect illustration of this point. On Monday the Chinese central bank banned initial coin offerings of bitcoin-type currencies, leading to a fall in the value of some cryptocurrencies of as much as 20 per cent.