Central banks feel threatened from crypto currencies

Central Banks now considering "printing Digital currencies" for stimulus.
As usual, we think Central Banks are missing the point.
Central bankers have one purpose over the last few years, and that is to find out anyway possible to stimulate their respective economies. Over the last 20 years, we have seen stimulus in almost all major geographical economic locations.
We see negative interest rates all over the globe, we see interest rates here in the United States advancing only 25 basis points after one of the greatest bull market runs in history. We see Central Banks that are afraid to take tightening measures, and therefore have begun to experiment with new types of quantitative easing.
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An article in the Wall Street Journal last week mentioned that Central governments could potentially try and incorporate blockchain as one of their methods for distributing currency. Citing the good things that have come with bitcoin, including decentralization and easy person to person transfers, Central Banks are apparently now considering using blockchain for quantitative easing. The Wall Street Journal stated,
When it comes to digital currencies, central banks might be considering the adage: "If you can't beat them, join them."
In a research paper published on Monday, economists at the Bank of England advocated that central banks issue their own kind of digital currency. Using the U.S. as a case study, they argued it could give a permanent boost to the economy of around 3%, as well as providing policy makers with more effective tools to tame financial booms and busts.
BOE economists John Barrdear and Michael Kumhof write that "reductions in real interest rates, distortionary taxes, and monetary transaction costs" would boost the economy.
Much like physical cash, digital currencies allow direct payment from one person to another, but they also have all the advantages of bank transfers, because large payments can be made instantaneously across the globe.

Talk about missing the point. The digital currency is a great idea and it is going to be around for a while simply because it is decentralized. The point is that its users don't want Central Banks involved with it at all. They want a currency that they can move amongst themselves without being intervened by the government.
It's funny. It is almost as if the Federal Reserve decided that they can't physically print money fast enough and that making it digital would be an easier way to simply gush out cash to stimulate their respective economies quicker.

The central banks are missing the point that digital currency is not there to be their tool to continue to ruin the economy.
It was created because it has a finite supply and doesn't involve anyone (P2P) while at the same time having checks and balances that involve everyone (the blockchain). There is nowhere in that equation for the government to fit in. It was created for the purposes of transparency. Nobody that is interested in digital currencies today is going to buy into the concept of a government issued digital currency because it is going to face the same issues as convectional currency. Namely, it's being run by a bunch of boobs.
Central bank ideas for digital currency will only be as serious as the public takes them. While it is validation for the means in which crypto currencies operates, which is great news, we don't think government backed digital currency will get anywhere anytime soon.
Central banks are trying to adopt a tool that was made to skirt their system. In doing this, they are validating Digital currencies and there purpose. Central banks continue to miss the point, and this is yet another reason why we are long digital currencies!