• Home
  • Login
  • Register
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
SUBSCRIBE
No Result
View All Result
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
Currency Insider
No Result
View All Result

Manager of Banco República de Colombia Winks At Bitcoin or is Studying a CBDC?

by CBDC Insider
September 16, 2021
in Business, South America
Reading Time: 2min read
0
Manager of Banco República de Colombia Winks At Bitcoin or is Studying a CBDC?
Share on FacebookShare on Twitter

The Manager of the Bank of the Republic of Colombia, Leonardo Villar, launched several winks to bitcoin by pointing out that the country requires a payment infrastructure that connects and includes everyone with less cost than the existing options.

During the “Comprehensive Risk Management” congress, organized by businessmen and executives from the insurance sector, Villar spoke about creating alternatives to reduce the use of cash. In this sense, he believes that the interest of the population should be directed towards “low-cost payment mechanisms that are secure enough so that they do not want to use cash.”

The manager of the financial institution seemed to be flirting with bitcoin, mostly because it is considered the safest payment method. Even above traditional systems, such as credit cards, debit cards or bank transfers.

RELATED STORIES

China’s Jiangsu Province to Expand Digital Yuan Adoption in Education Sector

China’s Jiangsu Province to Expand Digital Yuan Adoption in Education Sector

May 15, 2023
Reltime Unveils Revolutionary Wrapped FIAT and CBDC Service Set to Transform Global Financial Landscape

Reltime Unveils Revolutionary Wrapped FIAT and CBDC Service Set to Transform Global Financial Landscape

May 15, 2023

Villar launched so many references to bitcoin that the president of the Colombian Trust Association, Germán Arce Zapata, told him: “that is called cryptocurrencies and it is as the president of El Salvador has done, who is conducting a live experiment.” It was then that the official mentioned the need to “distinguish between cryptocurrencies and the development of digital payments.”

If not bitcoin, will it be a central bank digital currency?

Leonardo Villar acknowledged that “cryptocurrencies are mechanisms that have elements that could be interesting for the future.” However, it considers that, above all, it is necessary to regulate them.

Added that the use of cryptocurrencies in Colombia is relatively high, although from their perspective this could be linked to money laundering.

Cryptocurrencies are mechanisms that generate very high risks whose support is not fully known and many people use them, not for savings, but because they simply want to speculate. They are also used because, paradoxically, it is an alternative to generate transactions that do not leave a trace and that can be a terribly dangerous thing. That is why I believe that this forces us to have this type of activity highly regulated and to be very careful with the way in which they are carried out.

Read more

Previous Post

Digital Yuan Goes Head to Head With Alipay, WeChat in Beijing

Next Post

Atom Launches CBDSC for Flexibility in Execution of Eco Policies

Next Post
Atom Launches CBDSC for Flexibility in Execution of Eco Policies

Atom Launches CBDSC for Flexibility in Execution of Eco Policies

© 2022 CBDC Insider

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