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A new report published by the Bank of International Settlements (BRI) shows that most central banks are studying the digital currencies of the central bank (CBDC). However, most of these are unlikely to generate any type of digital currency in the near future.
CBDC & # 39; unlikely & # 39; in the short term
The BIS published the results of a new survey on central banks that studies the technology behind Bitcoin and cryptocurrencies. A total of 63 banks replied. They represent the jurisdictions, which cover about 80% of the world population and over 90% of the entire economic production.
The intention of the survey was to find out whether central banks are currently developing their own central bank digital currencies (CBDC) and how likely they are to be issued.
Of the 63 banks, 70 percent said they are currently working or will soon be engaged in work on the CBDC.
However, this includes conducting conceptual research on the topic, sharing studies and opinions on the development of a "common understanding of this new field of study". According to the report, half of the respondents moved to a more "practical" test. concept activities to test new technologies.
The report reveals that 85% of central banks are unlikely or very unlikely to issue any type of CBDC in the short term (1-3 years).
Back and forth
In the month of September, Bitcoinist reported that the European Central Bank (ECB) does not intend to issue a digital currency of the central bank.
It is also debatable whether a central bank issuing digital money will also be suitable for the mold of decentralized cryptocurrencies. In December, a couple of searches at the St. Louis Fed pointed out that:
Once you add a central bank and remove the network "without authorization", with nodes that can leave and join as they wish, there is not much left to do with the cryptocurrency you started.
However, some central banks remain open to the idea of the CBDC. The BIS report emphasizes that the Central Bank of Uruguay has completed a pilot program on a general purpose CBDC.
At the same time, the governor of the British central bank Mark Carney has previously stated that the Bank of England is open to the idea of a currency issued by the central bank.
What do you think of the CBDC? Do not hesitate to let us know in the comments below!
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