[ExI] Five Major Central Banks Unite to Explore Launching Their Own Digital Currencies
brent.allsop at gmail.com
Thu Mar 5 17:19:01 UTC 2020
Nice Article, thanks for sharing.
On Thu, Mar 5, 2020 at 7:31 AM JADE AND EUNICE CHANNEL via extropy-chat <
extropy-chat at lists.extropy.org> wrote:
> "While central banks *have* taken cryptocurrencies more and more
> seriously over the years, they also remain the ultimate authorities any
> rising new form of money must reckon with before knocking down the system.
> If anything replaces fiat currencies (in stable economies, at least), it’d
> likely need central bank support or even be issued by a central bank."
> "To that end, the Bank of England, Bank of Japan, European Central Bank,
> Bank of Canada, and Sveriges Riksbank (Sweden’s central bank) along with
> the Bank of International Settlements recently announced that they’ve
> banded together
> to research central bank digital currencies."
> "The new group—co-chaired by Benoît Cœuré, head of the Bank of
> International Settlements (BIS) Innovation Hub, and Jon Cunliffe, deputy
> governor of the Bank of England and chair of the Committee on Payments and
> Market Infrastructures at the BIS—will openly share their findings and
> experiences. They’ll look into emerging technologies, use cases, and
> digital currency design options, including how such currencies would work
> across national borders."
> "The group’s formation isn’t a commitment to launch a central bank digital
> currency, but the coalition shows how far the idea has come and how much
> weight it has with central banks. Indeed, a survey conducted by the BIS a
> year ago found some 70 percent of central banks [PDF]
> <https://www.bis.org/publ/bppdf/bispap101.pdf> had central bank digital
> currency projects in the works or underway."
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