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Much Anticipated Central Bank Digital Currencies Raise Privacy Concerns

by CBDC Insider Staff
July 13, 2020
in Business, US
Reading Time: 1min read
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Much Anticipated Central Bank Digital Currencies Raise Privacy Concerns
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Central Bank Digital Currencies, or CBDCs, have been an increasingly popular topic in the cryptosphere and financial world as a whole, especially with the onset of the COVID-19 crisis. In the United States, the need for a universal electronic payment system for stimulus checks gave rise to a proposition for the creation of a digital dollar and its implementation.
While members of the U.S. government move to create a CBDC on the back of the pandemic, it doesn’t end there. A recent report by the Bank for International Settlements has also revealed that the development of CBDCs may be accelerated by the impact of the coronavirus on retail payments, which have seen a sharp decline in cash payments due to concerns over viral transmission.

Continue read: https://cointelegraph.com/news/much-anticipated-central-bank-digital-currencies-raise-privacy-concerns

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