Central banks must play ‘pivotal role’ in digital money, says BIS exec

[waybesuricata]

With central bank digital currencies — or CBDCs — on the agenda in many countries, the general manager of the Bank for International Settlements has weighed in on the role of the mainstream financial establishment in the emerging digital currency landscape.

Speaking at the Hoover Institution policy seminar on Jan. 27, Agustín Carstens argued for central banks to be front and center in issuing and controlling digital money:

“If digital money is to exist, the central bank must play a pivotal role, guaranteeing the stability of value, ensuring the elasticity of the aggregate supply of such money, and overseeing the overall security of the system. Such a system must not fail and cannot tolerate any serious mistakes.”

Source and continuation of the article: https://cointelegraph.com/news/central-banks-must-play-pivotal-role-in-digital-money-says-bis-exec

[TomPluz]

There is no more question that in the coming years, digital money is going to slowly replace the fiat money we have now. Central banks will be issuing CBDCs in the hope that people anywhere will be adopting the same, so they can reduce the actual supply of the paper and minted money. Now, this is a big trend that can connect with cryptocurrencies we already have in many countries around the world. I am so excited for this, and I am happy to see this thing come alive before my eyes.