• Home
  • Login
  • Register
The Central Bank Digital Currency Insider
  • Home
  • Map
  • Reading Library
  • CBDC Think Tank
  • Partners
    • DEA
SUBSCRIBE
No Result
View All Result
  • Home
  • Map
  • Reading Library
  • CBDC Think Tank
  • Partners
    • DEA
No Result
View All Result
The Central Bank Digital Currency Insider
No Result
View All Result

Central Banks Haven’t Made a Convincing Case for Digital Currencies

by CBDC Insider Staff
October 12, 2020
in Asia, Central America
Reading Time: 1min read
0
Central Banks Haven’t Made a Convincing Case for Digital Currencies
Share on FacebookShare on Twitter

Central bankers should avoid getting too drawn into the bitcoin buzz.
On Friday, seven central banks—including the Federal Reserve—and the Bank for International Settlements published a report outlining common principles for issuing digital currencies to the public. Officials and corporations such as Facebook, inspired by cryptocurrencies, have spent years looking into the potential for technology to revolutionize money creation.
In a survey earlier this year, the BIS concluded that 20% of central banks are likely to launch a digital currency within six years. The risks posed by Covid-19 around the exchange of physical cash could heat up the race. China is furthest along and has launched a pilot program. Sweden’s Riksbank is also conducting its own test.
What remains unclear, though, is why this pitfall-ridden shift is necessary.

Continue read: https://www.wsj.com/articles/central-banks-havent-made-a-convincing-case-for-digital-currencies-11602502935

RELATED STORIES

Bank of Thailand Governor Is Seeing No Urgency For A Central Bank Digital Currency

Bank of Thailand Governor Is Seeing No Urgency For A Central Bank Digital Currency

July 4, 2022
Taiwan’s CBDC Project Needs At Least Two More Years, Says Central Bank Governor

Taiwan’s CBDC Project Needs At Least Two More Years, Says Central Bank Governor

June 30, 2022
Previous Post

Central Banks and BIS Outline Requirements for CBDCs

Next Post

Japan must amend central bank laws to issue digital yen, says official

Next Post
Japan must amend central bank laws to issue digital yen, says official

Japan must amend central bank laws to issue digital yen, says official

© 2022 CBDC Insider

No Result
View All Result
  • Home
  • Map
  • Reading Library
  • CBDC Think Tank
  • Partners
    • DEA
  • Login
  • Register