Examples of using Cbdcs in English and their translations into Chinese
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Political
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Ecclesiastic
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Programming
One important reason to provide CBDCs to citizens is that if cash disappears, citizens will lose direct access to sovereign money.
CBDCs should be available offline and function wherever cash is currently used, with 73% of respondents requiring CBDCs to be available under all circumstances.
Further, he dubbed the crypto evangelist's argument of CBDCs requiring blockchain technology and cryptocurrency as a necessary mechanism as“nonsense.”.
Considering CBDCs as causing a financial earthquake that could pose long-lasting repercussions is also worth considering, since they are a disruptive technology.
Central bank digital currencies(CBDCs) raise a number of serious questions to which we don't yet have answers.
CBDCs would work“peer-to-peer” very much diminishing the role of traditional banks or through the banking system helping banks to maintain their current dominant role.
CBDCs, or national digital currencies, are virtual currencies that are issued and controlled by a federal regulator.
Roubini sees CBDCs mostly as a way to extend access to the central bank register to every individual, instead of granting access to banks only.
The UK: We like CBDCs, but they might endanger the commercial banking sector.
CBDCs would likely replace all private digital payment systems, regardless of whether they are connected to traditional bank accounts or cryptocurrencies.
In the era of negative interest rates, CBDCs are also seen as offering a tool to control over how businesses and people use money.
CBDCs, the argument goes, could be used to charge households and businesses to hold cash, forcing them to spend and invest and stimulating growth.
Innovations and technological advancements are pushing central banks towards considering CBDCs as a complement to or replacement for cash;
Central banks across the world have quickened the pace with which they are looking at issuing their own digital currencies, also known as CBDCs.
Last year, Stanley Yong, a Global Lead on CBDC Solutions at IBM, said that CBDCs can reduce the risks that caused the 2008 financial crisis.
The next natural step would be for global central banks to join forces and jointly investigate the feasibility of CBDCs based on common technical standards.
Speaking at the Singapore Fintech Festival earlier today, the head of the International Monetary Fund(IMF) proposed that the international community should“consider” endorsing CBDCs.
In January, the Bank of England announced that it will research CBDCs with the other aforementioned central banks and the Bank for International Settlements.
If done properly, CBDCs could“could satisfy public policy goals,” she said, specifically“financial inclusion,”“security and consumer protection,” and“privacy in payments.”.
According to the Bank for International Settlements, a“majority” of central banks in developed and emerging economies(of 63 surveyed) are researching CBDCs.