The Bank for International Settlements (BIS), an international financial
organisation owned by 60 member central banks, has released a report analysing the
impact of potential central bank digital currencies (CBDCs). The report offers
a high-level overview of the implications of CBDCs for payments, monetary
policy and financial stability.
Several central banks have started exploring the idea of
issuing their own digital currencies. They are motivated by Fintech developments,
the emergence of new entrants into payment services and intermediation, declining
use of cash in a few countries and increasing attention to private digital tokens.
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