The document, published on Thursday, is made up of a series of papers that were prepared for a meeting of deputy governors of central banks from emerging economies, which happened on February 9 and 10.
"Providing a cash-like digital means of payment, in light of reduced cash usage and an increase in private digital payment services, is the most common consideration [for CBDB issuance]," it says.
The report includes countries such as Brazil, Hong Kong, Mexico, South Africa and the United Arab Emirates.
It also points out that central banks in emerging market economies prioritize financial inclusion and focus on cyber security risks, potential bank disintermediation and cross-border spillovers.
The link for this post is for an archive, which can be easier to read than the article from The Block's website. The link for the source article is here:
Central banks in emerging economies look to CBDCs for payment efficiency, BIS report says https://www.theblockcrypto.com/linked/142038/central-banksin-emerging-economies-look-to-cbdcs-for-payment-efficiency-bis-report-says/
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It's imperative that #bitcoin'ers say "spy coin" or "surveillance coin" when CBDC's are mentioned in any Twitter post. We have to do our part to educate normies.
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Hilarious new chart from @BIS_org showing survey results from governments worldwide on why they want CBDCs…
Missing:
-Elimination of financial privacy -Easier censorship/deplatforming -Programmable helicopter money -Preventing citizens from saving
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A new post on ZeroHedge on CBDCs:
Central Bank Digital Currencies Are Doomed To Fail - And Here's Why | ZeroHedge #20515 https://www.zerohedge.com/crypto/central-bank-digital-currencies-are-doomed-fail-and-heres-why
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