“If CBDCs are designed prudently, they can potentially offer more resilience, more safety, greater availability, and lower costs than private forms of digital money.” crypto cryptocurrency bitcoin
“If CBDCs are designed prudently, they can potentially offer more resilience, more safety, greater availability, and lower costs than private forms of digital money,” she said.IMF Managing Director Kristalina Georgieva gave a speech last week at the Atlantic Council in Washington D.C. regarding the future of money, cryptocurrency, and central bank digital currencies .
She continued: “That is clearly the case when compared to unbacked crypto assets that are inherently volatile. And even the better managed and regulated stablecoins may not be quite a match against a stable and well‑designed central bank digital currency.”She mentioned the Sand Dollar in the Bahamas, a proof-of-concept by Sweden’s Riksbank, and the e-CNY in China. In addition, she recognized that the U.S. Federal Reserve issued a report on CBDCs last month.
Firstly, she said, “There is no universal case for CBDCs because each economy is different … So, central banks should tailor plans to their specific circumstances and needs.”