The Digital Currencies Issued by Central Banks are Not Favored

On June 7, local time, a London think tank said in a report that the digital currency issued by the central bank could become an expensive failure.

At present, it seems that European countries are preparing to issue central bank digital currency, but its nature determines that the digital currency issued by the central bank will not have any appeal among consumers. It is almost impossible for the central bank’s digital currency to compete with commercial digital currencies. Commercial digital currencies have more privacy, security, and dynamic and innovative solutions, which the central bank is unlikely to achieve.

Although some bankers have hinted that a central bank digital currency could exist as an anchor, yet without huge circulation, there is no credit, so how can this be an anchor It is also important for the EU to reform its regulatory approach in order to provide consumers with more affordable, diverse, competitive and innovative payment methods.

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Translator: MOS Education Team – Winsun G
Design&editor: HBamboo(昆仑竹)

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