![]() The report indicates that as of July 2022 about 97 countries across several continents around the world have indicated interest and are nowadays exploring CBDCs, which is more than half of the global central banks. Central banks all over the world are now exploring their potential as they could offer several benefits, but for various reasons, ranging from real-time payments to increased financial participation by the unbanked and underbanked. This report shows there is a great deal of interest in the concept of CBDCs in a growing number of countries worldwide. In this report the IMF said that crypto’s technical capabilities could bring the potential for central banks to create a rich, diverse monetary system if well-constructed and that global collaboration might actually be a good thing. The publication provides insight into the research the organization has done on CBDCs, thereby giving an update on the progress of the global development of CBDCs in various countries. In September the International Monetary Fund (IMF) has released a report named “The Ascent of Central Bank Digital currencies”. What can Central Banks and international organisations learn from their findings? There are also various private players that could play an important role in solving the various issues CBDC projects are confronted with, like Ripple and Algorand. Recently, a number of interesting reports have been published giving insights on the present state of CBDC projects (IMF report) and on the various risks that these could bring (Atlantic Council GeoEconomics Center Research). “If CBDCs are designed prudently, they can potentially offer more resilience, more safety, greater availability, and lower costs than private forms of digital money.” Kritalina Georgieva , managing director of the International Monetary Fund (IMF). “C rypto assets and stablecoins are no match for well-designed central bank digital currencies (CBDCs). It is becoming all the more likely that it will be central bank digital currencies (CBDCs) that are digital versions of nation’s fiat money that are issued and regulated by central banks as these are seen as more secure and inherently not volatile. ![]()
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