As the coronavirus outbreak widens and halted many economic activities across the world, the central banks in eurozone appear to be inclined for the digital payment/currency system. Currently, many countries where the payment system is not swift, as a result, financial transactions are not available – whether it be the payment of a credit-card bill or mortgage; an online purchase; or the transfer of money to a relative can take 2-3 days. A national digital currency managed on a single network could allow money to change hands almost instantly. According to the Bank International Settlements (BIS), at least 17 CBDC (Central Banking Digital Currencies) initiatives have been launched to determine whether a digital currency would:
Continue read: https://www.econotimes.com/Regulatory-Series-On-Cryptocurrencies-Central-Banks-Tendency-Towards-Digital-Currencies-CBDCs-1582055
