BofA Global Research Podcasts: Central Bank Digital Currencies: Stable and Still Disruptive
• BofA Global Research Podcasts are an ongoing series of discussions covering growth industries and topical market themes.
• T.J. Thornton is joined by Philip Middleton & Alastair Ryan for a discussion of Central Bank Digital Currencies (CBDCs).
• We discuss differences between CBDC & Crypto, the rise of private sector stablecoins, & impact of CBDC on comm banks.
Central Bank Digital Currencies are not Crypto, but would be a better payment mechanism
While electronic payments today necessitate commercial banks, if Central Bank Digital Currencies (CBDCs) were adopted, electronic payments could happen without them. Deposits could be held at Central Banks too. Our European banks team believes the ECB will decide to run a full CBDC trial by the middle of this year. Geopolitics and years of the EU trailing the US in technological advancement may have pushed the ECB to move more quickly than other major central banks on this front. And while a full-fledged CDBC is still years off, even in the Eurozone, implications for banks and payment networks are critical to understand now, as the ECB makes it increasingly clear that change is likely coming.
Posted by : Dubai PR Network Editorial Team Viewed 3080 times PR Category :Banking & Investments Posted on : Sunday, February 28, 2021 11:13:00 AM UAE local time (GMT+4)
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