Cuy Sheffield Believes Bank's CBDC Approach Not Consumer Friendly

[Paglamon]

Visa executive, Cuy Sheffield believes that the central banks would not take the problems of consumers who would have issues with digital currencies seriously. He believes there are two approaches to it and one that primarily consumer-based not on the agenda of the Central Banks.

He adds that these banks need to become household brand if they're willing to offer a digital wallet to customers, however, the operational cost of it would be too high to tempt these banks into doing it. He cites a report from R3, a blockchain firm which concluded thatdigital currency to enhance the life of customers is yet to be tried by any bank.