The Bank for International Settlements (BIS) Research Reveals that CBDCs Can Play a Vital Role in the Future of Cross-border Payments
The Bank for International Settlements (BIS) has been investigating the potential of CBDCs for several years and BIS has established BIS Innovation Hub Center in London, which will work on innovative projects related to CBDCs and other financial technologies. In addition, BIS also conducted research on the benefits and difficulties of cross-border payments with CBDCs. BIS announced the results of Project Icebreaker, a cross-border payment model for the Central Bank Digital Currency (CBDC), which is carried out in cooperation with Israel, Norway and Swedish central banks.
The most striking thing in the BIS report shows that CBDCs can play a vital role in the future of cross-border payments. And according to the report, it shows that CBDCs can provide great benefits for both banks and clients. In addition, according to the report, many central banks want to issue CBDC within the next 10 years. You can check out the entire report here.
You can learn more about CBDC here:
Frankly, CBDCs do not interest me because I stay away from centralized digital currencies, which is why most investors are skeptical of CBDCs., but this report reveals that digital assets will play a vital role in the future. According to the report, the use of digital assets in payments is both faster, less costly and more convenient.
I think that in the future every country will want to issue their own CBDC and I think they will understand the benefits of digital assets better. I think this will help them adopt cryptos and many countries will even make cryptos legal tender, especially Bitcoin, and they will even want to issue their own cryptos. This will of course happen over time so I can't say it will happen in the near future, but I think it will happen in the future. Although the number of countries currently against crypto seems to be large, they will have to accept cryptos because the digital world needs it. In short, in monetary terms, I think cryptos will play a vital role in the future. Already aware of this, some institutions and individuals have entered the crypto market at an early stage and are even planning to go deeper.
Posted Using LeoFinance Beta
