Will central banks create their own digital currencies?

[Astra]

The central banks of many states are already doing this to varying degrees. Some are just conducting research on this possibility and necessity, others are already actively creating their own CBDCs, and others are already on the verge of testing and releasing them. This process has been going on since about 2019, however it is quite long. Some states are in a hurry with their release, others are not. However, I think that soon almost all states will have their own digitized currencies, because their effectiveness in comparison with non-cash payments of states is obvious.

[MrSpasybo]

We have been hearing about CBDC since 2020 but currently only a few countries are considering and releasing it. China has an e-CNY but it is not really well known and has not been recognized or used by other countries. CBDC still has a long way to go to become as popular as crypto or fiat.

[Zezari]

Anyone who wants to issue their cryptocurrency in the banking system will have a very difficult time, it's not all built up so quickly and you need popularity for this.

[Max Way]

Anyone who wants to issue their cryptocurrency in the banking system will have a very difficult time, it's not all built up so quickly and you need popularity for this.

Indeed, it seems that it will be difficult if moreover each country has its own currency, of course they also have their own payment methods which are arguably more popular and often used. Unless a country really needs a new technological breakthrough that can have a good impact in terms of fast and no-limit transactions, then I think blockchain can be considered.

[ritiktakyan01]

Yes I think in the future central banks will create their own digital currency. Because most of the people are inclined towards digital currency. The coming era is digital age and crypto is digital currency. In the coming time digital currency will rule the whole world.

[alltalk]

They are trying to create their own CBDC, their digital money. although the progress is still not clear and still not seen the success, they are now still preparing for it. But unfortunately, their prupose is to compete and take the place of cyrptocurrency. So, this may be good and bad at one time.

[Cutter Cute]

The government has regulations to systematically regulate the country's finances, because of that CBDC was created to facilitate the traditional transaction systems that exist today and want to compete with cryptocurrencies.
The government knows what they are doing for the benefit of the country, we can see how much USDT is printed and guaranteed, if a CBSC is created, they need to consider another crypto asset that already exists, because it has a better value which is Blockchain technology.

[satpol_PP]

The government has regulations to systematically regulate the country's finances, because of that CBDC was created to facilitate the traditional transaction systems that exist today and want to compete with cryptocurrencies.
The government knows what they are doing for the benefit of the country, we can see how much USDT is printed and guaranteed, if a CBSC is created, they need to consider another crypto asset that already exists, because it has a better value which is Blockchain technology.

Yeah, block chain technology is good.
I think central bank and govt should improve at crypto currency.
CBDC is one of their crypto.
Hopefully we will see several of them being created.

[pacar_tiri]

I think that with the Digital Yuan project that China has created, it will soon be followed by other countries' Central Banks. Because this crypto is very fast spreading freely. So I am sure that soon there will be other projects such as Digital Yuan from various countries.

Yeah digital yuan has been created by China,  then we all know about CBDC, has been created by west country.
I think we will see many digital currency that has been created by many countries.
It's good for crypto world.
Hopefully it will have good effect for crypto market.

[Speaker]

I don't think this will have a very good effect on the crypto market.In fact, it will be another new form of money with closed blockchains for its own cross-border transfers and the ability to monitor our operations and control the payment of taxes.

[DAMKAR]

I don't think this will have a very good effect on the crypto market.In fact, it will be another new form of money with closed blockchains for its own cross-border transfers and the ability to monitor our operations and control the payment of taxes.

I think it will have good effect for crypto market ,if central bank create their own digital currency.
Digital currency is the future currency.
I believe we will see good competition there.
that's my opinion.

[bayiajaib]

I don't believe central bank will create crypto.
But anything can happen at crypto currency.
I think we will see many crypto has been created by many big companies at the coming future, but maybe not banks.

[Ghozrd]

I don't believe central bank will create crypto.
But anything can happen at crypto currency.
I think we will see many crypto has been created by many big companies at the coming future, but maybe not banks.

Governments can create guaranteed digital currencies based on the paper currency they have, it's like crypto assets backed up by gold, nothing is impossible.
the situation is almost the same as the use of Debitcard, Visa and Mastercard, if the CBDC is successfully created then Crypto can be entered as implemented by Paypal

[Speaker]

Absolutely right. It's just a form of money.This does not change anything for the entire crypto-currency market.

[Fenix]

I don't believe central bank will create crypto.
But anything can happen at crypto currency.
I think we will see many crypto has been created by many big companies at the coming future, but maybe not banks.

Banks, of course, will not create cryptocurrency. They will create CBDC, that is, their own digitized fiat, which can hardly be classified as a cryptocurrency. CBDC will be the same fiat, only in digitized form, and it will be an improved alternative to their current cashless payments. In this way, states use the new opportunities provided by blockchain technology. Soon we should see the mass release of their CBDC by states.