Finance Breaking news BIS examines the rise of the CBDCs last financial news

Breaking-Finance.Com - While central banks around the world are investigating the creation of their own digital currencies, there is huge variance in the approaches being taken, a new Bank for International Settlements (BIS) working paper shows.

Finance Breaking news BIS examines the rise of the CBDCs last financial news

Breaking-Finance.Com - While central banks around the world are investigating the creation of their own digital currencies, there is huge variance in the approaches being taken, a new Bank for International Settlements (BIS) working paper shows.

Finance Breaking news BIS examines the rise of the CBDCs last financial news
24 August 2020 - 17:45

Breaking-Finance.Com - While central banks around the world are investigating the creation of their own digital currencies, there is huge variance in the approaches being taken, a new Bank for International Settlements (BIS) working paper shows. CBDCs are receiving more attention than ever before thanks to the Covid-19 pandemic and social distancing measures, which have seen a turn away from cash and new government-to-person payment schemes.Yet the motivations for issuance vary across countries, as do the policy approaches and technical designs.Given the novelty of CBDC, and the scope for “clean-slate” thinking on the nature and provision of money, it is natural that the approaches will differ across countries, in line with economic circumstances and users’ priorities, say the authors.

. In countries with a lower penetration of digital payments, financial inclusion may be an important driver.However, there are some common themes, most notably that no designs are intended to replace cash. Most also still involve a strong role for intermediaries and none of the designs is pursuing the Indirect model, where a CBDC is a claim on intermediaries rather than on central banks. Read the full paper:Download the document now 5.9 mb (PDF File)

Source = Breaking-Finance.Com

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Finance Breaking news BIS examines the rise of the CBDCs last financial news


Finance Breaking news BIS examines the rise of the CBDCs last financial news


Finance Breaking news BIS examines the rise of the CBDCs last financial news


Finance Breaking news BIS examines the rise of the CBDCs last financial news

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