Central Banks of 15 Diverse Countries are Ready to Embrace Cryptocurrency

[Goodcat49]

A report published by the International Monetary Fund (IMF) outlines that 15 different countries are considering joining the global fintech trend and adopting central bank digital currencies (CBDC) as a method of payment. The IMF has emphasized two main reasons for such a decision in the report.

Central Banks Involved

The IMF report revealed the names of 15 countries interested in the implementation of digital currencies, namely the Bahamas, Canada, China, Central Bank of Curaçao and Sint Maarten, Eastern Caribbean, Ecuador, Norway, Senegal, Sweden, Tunisia, and Uruguay. It is interesting to notice that the interest in crypto sphere has increased proportionally to the decrease in the volume of transactions on the crypto market.   

It is assumed, that if private institutions adopt and start using the virtual currency for payments on a regular basis, then a surge of enthusiasm about the new payment method will be registered across central banks as well. For example, in Sweden, mobile payment applications have become very popular, and the circulation of cash has declined so much that experts believe all Swedish stores and businesses will no longer accept banknotes in a few years. The state should offer an alternative to the private market of payments, the Central Bank of Sweden said recently.

The People’s Bank of China, meanwhile, has also been working on its own cryptocurrency project. This autumn, it posted job opportunities hiring specialists capable of developing software, encryption models, and microchips for “digital fiat currency”.   

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/countries-are-ready-to-embrace-cryptocurrency/