Bankers at the World Economic Forum say yes to CBDCs, but they have some reservations.
The process of introducing a central bank digital currency is fraught with unknowns, some of which were elucidated in a panel of experts gathered Monday at the World Economic Forum in Davos, Switzerland. The panel concluded that good design is key to a successful CBDC, and there are fewer challenges for wholesale CBDC introduction.
Suthiwartnarueput said the use of blockchain technology can have unintended consequences. It is good for transparency, he said, but anonymity affects scalability. There is risk in a CBDC’s design because smart contracts require that the handling of every situation be specified ahead of time. He cited the current sanctions on Russia as an example of a potential challenge to CBDC design. The Thai central bank is looking at a “limited pilot” for a retail CBDC in the fourth quarter of this year.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
WEF 2022: Terra were offering unsustainable yields; DeFi can support financial inclusionCoral Capital’s Horsman shared that the Terra (LUNA) crisis partly occurred because “they were essentially offering yields that were unsustainable, and [that] there were venture capital firms that were bootstrapping those yields in order to bootstrap an ecosystem.”
Lire la suite »
WEF 2022: Ripple SVP says crypto winter provides an opportunity to build“This has happened before. It's going to happen again.” Brooks Entwistle, Ripple’s senior vice president for global customer success, gives some context on the crypto winter while speaking to KristinaLCorner at WEF22.
Lire la suite »
WEF 2022: Most DeFi protocols aren’t really decentralized, says European Parliament VPAny defi protocols that are not entirely decentralized may be ripe for regulations. One European Parliament VP weighs in on the matter.
Lire la suite »
WEF 2022: Crypto remittances must have allure of cash without regulatory constraints — Jeremy AllaireWhen it comes to remittances, cash is still king. At WEF22, Circle CEO jerallaire says digital cash systems built on the blockchain must hold the qualities of physical money without regulatory restraints to attract more users.
Lire la suite »
WEF 2022, May 23: Latest updates from the Cointelegraph Davos teamWEF 2022 would see the likes of central bank governors from Thailand and France along with IMF managing director discuss various aspects of the nascent tech.
Lire la suite »
WEF 2022: PayPal looks to embrace all possible crypto and blockchain servicesCould PayPal become a blockchain powerhouse? While at WEF22, vice president Richard Nash said the global payment giant is looking to bring all possible blockchain and cryptocurrency integrations to its services. (Reporting via coindanslecoin)
Lire la suite »