- Experts at Davos think the US should digitize the dollar especially as the digital Yuan will soon be functional.
The US ‘digital dollar’ has invited a lot of attention from many industrial experts. In the current scenario, as China is working towards the digital yuan, the number of people calling for the digital dollar is only increasing, as witnessed at the Davos conference held by the World Economic Forum.
As reported by CNBC, Christopher Giancarlo, an American attorney and former chairman of the CFTC said that traditional currency in a digital world leaves the people ‘undeserved’. Another speaker, Neha Narula, Director of the Digital Currency Initiative at MIT, said that the digital dollar is worth the consideration. Henri Arslanian, global crypto leader at PwC, said that CBDCs hold the potential to transform cross-border remittances and can help fight corruption. He stated:
“The potential traceability features of CBDCs could, for the first time, give us a good fighting change against corruption and money laundering. CBDCs also could allow policymakers to measure the impact of certain policies accurately and immediately.”
Of late, CBDCs have been attracting the attention of several countries. As reported recently, the central banks of five major countries and the European Union combined with the Bank for International Settlements (BIS) to conduct joint research on CBDC. The central banks of Hong Kong and Thailand also inched closer to the implementation of a joint CBDC venture to improve the efficiency of Thai baht and Hong Kong dollar (THB-HKD) cross-border payments.
BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.
Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews
Image Courtesy: Pixabay
The post Experts at Davos Conference Discuss Digital Dollar appeared first on BitcoinNews.com.
from BitcoinNews.com RSS Feed
via TOday BItcoin New
0 Comments:
Post a Comment