Globally, investigation into how CBDCs will be designed is being done. With Web3 development in the sidelines, banks could be affected.
With more services becoming digital, a digital currency seems to be the perfect solution to streamline the digital revolution further.
The report found that more than half of banks reported challenges reducing cyberattacks, and nearly half of firms are concerned with safeguarding sensitive data and adapting to consumer privacy laws.
With an SEC lawsuit clouding the coverage of Ripple, their cross-border disruption seemed subdued. The company then launched a CBDC platform.
In this week's LendIt TV session we learned about the state of central bank digital currencies (CBDCs) with experts from the USA, Europe, and China.
Since before bitcoin blew up in 2018, leading financial minds the world over have been researching the implications of institutionally created currencies for use as digital cash, to settle interbank deposits, and for monetary policy development.
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Environmental concerns drive many to reject the idea of CBDCs but research suggests they could actually be an improvement.
Financial exclusion is a global problem affecting millions of people, through strategic design and implementation, could CBDCs be the solution?
The world's central banks are turning towards CBDCs and real-time payments. FIS has launched infrastructure to support them.
Like many interested in the crypto space, Crapo has asked for months about the stablecoin report.
Digital Identity is an aspect of CBDC design causing much debate. For some, it is the end of freedom, others dub that "unnecessarily alarmist."