{"id":97392,"date":"2026-05-24T11:58:46","date_gmt":"2026-05-24T08:58:46","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=97392"},"modified":"2026-05-24T12:00:15","modified_gmt":"2026-05-24T09:00:15","slug":"why-37-european-banks-are-launching-their-own-cryptocurrency","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/why-37-european-banks-are-launching-their-own-cryptocurrency\/","title":{"rendered":"Why 37 European Banks Are Launching Their Own Cryptocurrency"},"content":{"rendered":"

This week, “Deconstruction” focuses on the launch of the first quantum computer in the UAE, SpaceX’s secret bitcoins, crypto companies’ accounts at the Federal Reserve<\/span>, and the death of the cypherpunk movement.<\/p>\n

The Threat of “Quantum Utility”<\/strong><\/h2>\n

Quantum computers are no longer a future technology; they are entering the stage of “quantum utility”<\/a>, posing a real threat to the encryption algorithms of Bitcoin and Ethereum.\u00a0<\/p>\n

Protection against quantum hacking requires sacrifices\u2014tests of post-quantum solutions have already shown a reduction in blockchain throughput by 20\u201340%. While Ethereum plans a transition by 2029, Bitcoin developers are notably lagging in discussions on protection.<\/p>\n

SpaceX Bitcoins and the End of Free AI<\/strong><\/h2>\n

The SpaceX IPO<\/a> sets a new standard where buying shares in a rocket company means indirect investment in crypto and AI.\u00a0<\/p>\n

Top analytical platforms misjudged SpaceX’s hidden reserves by more than 100%\u2014the company holds 18,712 BTC worth $1.3 billion. This proves that we are far from understanding the real volumes of cryptocurrency on corporate balance sheets.\u00a0<\/p>\n

Meanwhile, Musk’s lawsuit with OpenAI<\/a> confirmed that cutting-edge AI will remain closed, forcing Web3 startups to abandon direct competition and focus on absolute privacy and protection from censorship.<\/p>\n

Banks’ Plans to Capture Cryptocurrency<\/strong><\/h2>\n

Governments are transferring the competition of national currencies to the blockchain. Trump allows<\/a> crypto companies direct access to the US Federal Reserve, while 37 European banks are creating their own euro stablecoin<\/a> to combat the digital dollar.\u00a0<\/p>\n

Traditional financiers consider backing stablecoins with gold, as Tether does, a huge risk<\/a> that could trigger a liquidity crisis. This will inevitably lead regulators to force issuers to abandon risky assets in favor of government bonds.<\/p>\n

The End of Cypherpunk?<\/strong><\/h2>\n

The Web3 industry has almost completely lost its original ideology<\/a> of independence, trading privacy for convenience, and ceding the role of a payment medium to a controlled quasi-fiat in the form of stablecoins.\u00a0<\/p>\n

Despite blockchain becoming part of the banking system and decentralization remaining merely a declaration, the ideas of crypto-anarchism are not destroyed. Their popularity could sharply increase in the event of another global financial collapse, which the world is now likely approaching.<\/p>\n

This is a shortened version of the podcast. Watch the full episode:<\/p>\n

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