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Central Banks Increasing Interest In CBDCs - Report.
2021-05-19 | Eddy Morgan
“Diem offers an entire new paradigm in economics: a various association of enterprise and social impact stakeholders developing digital currencies on a permissioned, open-source chain built with the foremost leading edge tech – with a built-in global market and limited barriers for growth once live,” outlined the report titled “Infrastructure and design of CBDCs.”As per the report, the event of Diem has been considered a “catalyst” for the Chinese government to accelerate its plans for its digital currency issued by the state bank People’s Bank of China. China is on the brink of launching the digital yuan and is testing the CBDC with commercial institutions and therefore the public.
“The Chinese government remains bent establishing itself as a central player within the emerging global virtual currency market,” the Bison Trails report adds.The United States Federal Reserve System is taking a more cautious approach regarding the issuance of a CBDC with no firm commitment so far.
