Stablecoins are not driving central bank digital currency race: BIS report

[Tnoy30]

The BIS has said in a new report that CBDCs could be what central banks around the world need. But it's not because of stablecoins like Facebook's Libra.
Central bank digital currencies (CBDCs) could end up being a game changer for governments around the world, the Bank for International Settlements (BIS) has said in a new report.
Read on: https://decrypt.co/33590/stablecoins-not-driving-central-bank-digital-currency-race-bis

[damsix]

Indeed it seems like that because stable coins like USDC, USDT, PAXOS or BUSD are not centralized currencies.
Even though it has stable characteristics but still because stable coins are a decentralized cryptocurrency system.

Reports from BIS can also be appreciated because it is proven that CBDC is indeed a trusted platform for centralized systems of cryptocurrency.

[aiviaa485]

Stablecoin does not move the central bank's digital currency race because coin stable is created on the basis of cryptocurrency, which cryptocurrency does not support also for Fiat which is centralized in terms of the system because of its different bases.

It is in my opinion that this is an obstacle to coin future stability that always clashes with existing systems.
But maybe we also have to think positively because every day, even every second the cryptocurrency system is always changing, including Stable coins.

[kent47400]

But maybe we also have to think positively because every day, even every second the cryptocurrency system is always changing, including Stable coins.

It is true because stable coins are still like the price of gold and silver which changes every day.
Then I also think that stable coins cannot race due to limitations with the step in price changes.

But I'm sure stable coins will stay on the existing regulatory path because these stable coins must be the same as the real 1:1 Fiat.

[jonathancool220]

Reports from BIS can also be appreciated because it is proven that CBDC is indeed a trusted platform for centralized systems of cryptocurrency.

I think BIS has matured on this and this is the impact of the CBDC.
BIS is the mother of all banks and if it is not transparent to all that is happening then we will not believe the thing about stable coins.

At least BIS understands very well what is happening and BIS will also make stable coins more valued in the community for a good cryptocurrency future.

[Fenix]

Of course, the stablecoins of the central banks of states, that is, their digitized currencies, can significantly change the existing global financial system. If anything, traditional banking transactions are already hopelessly outdated compared to digitized currencies. This is already recognized by the majority of states and their governments.
At the same time, the digitization of common currencies of states creates good conditions for the growth of popularity of decentralized cryptocurrency, since they look very similar in their functioning.

[Senin]

The BIS has said in a new report that CBDCs could be what central banks around the world need. But it's not because of stablecoins like Facebook's Libra.
Central bank digital currencies (CBDCs) could end up being a game changer for governments around the world, the Bank for International Settlements (BIS) has said in a new report.
Read on: https://decrypt.co/33590/stablecoins-not-driving-central-bank-digital-currency-race-bis

Yes, it is the stablecoins of the central banks of states that can change the rules of the game in the financial world. Now, most states are already working on the creation of their own digitalized currencies, and it is they who will play a significant role in the system of financial payments in the future.
We will soon be able to see this on the example of one of the very first stable coins of states - the Chinese digital yuan.

[Alcor]

Most likely, it will be so.  Most states are already working to create national stablecoins for central banks.  Even figures of 80 percent of such states and more are named.  Of course, the credibility of a stablecoin of a home state will be much higher than that of a private or commercial stablecoin.  In addition, states can simply prohibit the use of their national currency in other stablecoins.  Then all other stablecoins other than central bank stablecoins will be declared illegal.

[IyemRoker]

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Maybe more precisely if cryptocurrency is more widely used by everyone, compared to digital money made by Central Bank.

I think that digital money from Central Bank lacks transparency for all deposits in every trade.
For example, when the Local Central Bank is not so fast in sending digital money to various countries due to problems with various regulations. Cmiiw