Bank Of America, based in the United States, in a report indicated that at least 114 central banks are exploring virtual currency projects issued by these organisms, which is known as central bank digital currencies (CBDC for its acronym in English).
In the report reviewed by Forbes Argentina, they indicate that these 114 central banks represent 58% of all countries, in addition to being the ones that generate 95% of the world’s gross domestic product. In this sense, the specialists indicate in the report that CBDCs are like a natural evolution of the monetary system and, in this regard, indicated that “We view distributed ledgers and digital currencies, such as CBDCs and stablecoins, as a natural evolution of current monetary and payment systems.”.
The specialists in charge of preparing the Bank Of America report have recognized the potential of cryptocurrencies, to the point of saying that digital currencies seem to be inevitableand this is precisely what the statistics have shown year after year, where companies such as Statista, Chainalysis (among others) have been constantly making statistics and in each one of them, the growth in cryptocurrency adoption globally.
Added to this are the multiple statistics from companies and universities on American soil that have shown that at least 15% of American citizens currently use or have used cryptocurrencies.
In such a way that, in a general way, the benefit of cryptocurrencies is being tacitly or expressly recognized. Among them, the elimination of intermediaries which, in terms of convenience, generates a strong decrease in expenses in transactions traditional finance.
Under this scheme, Forbes Argentina reports that specialists speculated about the massive adoption that these CBDCs would have, since according to Federal Reserve figures for 2021, at least 6.5% of Americans are unbanked. Being a digital currency, the creation of a wallet to be used on a smartphone could reverse this statistic according to specialists, and reach 96.7% of the banked population.
For this, the experts consider that the CBDC must be accessible, and they consider that in the same wallet they can send, retain and receive, creating a record similar to the banking history that would serve as the basis for financial products.
They consider that mass adoption of CBDCs could supplant and displace the use of so-called stablecoinsand for that to happen, it is necessary that the design and programming of these CBDCs are sufficiently robust, secure, transparent and reliable so that this displacement can be generated.
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