Blockchain and Cryptocurrency: People, Culture and Tech
“If the ECB, the Fed and the other central banks want to continue to fulfill their role vis-à-vis society, which is to ensure financial stability and to ensure that monetary policy can be adjusted, broadcast throughout the economy, they must adapt their intervention methods to the new digital situation," said Coeuré.
According to an Aug. 24 report from the Bank for International Settlements, “there is growing discussion of a new payment technology: central bank digital currencies (CBDCs).”
The Bank of International Settlements has come out firmly in favor of central bank digital currencies (CBDCs) in a new report—calling them a potentially evolutionary change that can “set high standards for safety and risk management and serve as a basis for sound innovation in payments.”
The Bank of England’s statement said the group will explore “CBDC use cases; economic, functional and technical design choices, including cross-border interoperability; and the sharing of knowledge on emerging technologies.”
