The Philippines to launch pilot CBDC implementation

[newshunter]

The Philippines to launch pilot CBDC implementation

BSP Governor Benjamin Diokno says that the goal of the project is to enhance “the payment system’s safety, resiliency, and efficiency.”

Source: The Philippines to launch pilot CBDC implementation

Would appreciate your opinion about this

[cheezcarls]

The Philippines to launch pilot CBDC implementation

<p style="float:right; margin:0 0 10px 15px; width:240px;"></p><p>BSP Governor Benjamin Diokno says that the goal of the project is to enhance “the payment system’s safety, resiliency, and efficiency.” </p>

Source: The Philippines to launch pilot CBDC implementation

Would appreciate your opinion about this

I am not saying that I’m favor or not in favor about Philippines’ implementation of CBDC, because we don’t know how it would affect the cryptocurrency industry in the country in the long run. And since it’s centralized, of course we don’t have the full control of these CBDCs. Only the banks will.

[Dora Walletinvestor]

I can understand this ambivalence about whether CBDC's are good or not. On the one hand, they are technically cryptocurrencies - on the other hand, their being centralised understandably doesn't appeal to most crypto enthusiasts.

[TomPluz]

I am taking any news and development of CBDC to be good and positive for cryptocurrency in general and in the long-term basis. Why? Because this is a big confirmation that indeed the blockchain and cryptocurrencies technologies are now recognized even by the government and as long as there is no blanket ban as what China did then everything can be fine. In fact, with the use of CBDCs, more and more people will realize that actually cryptos can be a lot better. We should note that CBDCs can be compared to stablecoins which did not affect cryptos in general and even enhanced the usage and adoption a lot better.