The discussions pertaining to centara bank digital currencies, or CBDCs, are far from over it seems. Deutsche Bank analyst Marion Laboure has very high hopes for this field of research.
Numerous banks would love to create a digitized version of their fiat currency.
Central Bank Digital Currencies in 3 Years?
Doing so is not difficult, but creating a viable ecosystem is something else entirely.
Deutsche Bank analyst Marion Laboure expects CBDCs to be issued within the next three years.
In fact, she believes that the coronavirus crisis is a prominent catalyst for this particular prospect.
Using cash is dissuaded in most countries, primarily due to paper currency and coins potentially spreading COVID-19 even further.
Since the coronavirus crisis, looking for alternative payment options has been ongoing.
What role central bank digital currencies will play, remains to be determined.
A think tank has been set up in early 2020.
That project unifies knowledge and collaboration between central banks in the UK, Canada, Switzerland, Sweden, and Japan.
If they are all looking to introduce central bank digital currencies, a lot of things can happen .
These central banks partaking in the joint venture represent 1.5 billion citizens of the global populace.
That being said, the future regarding central bank digital currencies remains largely uncertain.
It is a very rough project concept that needs to be refined in the months to come.