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.
With more services becoming digital, a digital currency seems to be the perfect solution to streamline the digital revolution further.
Financial exclusion is a global problem affecting millions of people, through strategic design and implementation, could CBDCs be the solution?
Like many interested in the crypto space, Crapo has asked for months about the stablecoin report.
Their website mentions names such as 'digital sterling' or 'Britcoin' and emphasizes the difference between CBCDs and cryptocurrencies.
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.
