Central banks around the world announced their own efforts to improve their respective national currencies. As a result of innovations based on blockchain, and other decentralized software systems, hundreds of new currencies have emerged. These solutions aim to address a wide variety of deficiencies of legacy financial systems, which often rely on digital technologies dating back to the 1960s, and in some cases are still analog. The implementation of CBDCs will very likely further erode personal financial privacy, and allow totalitarian governments to increase financial controls.
Christian Kameir
Blockchain VC @ Sustany Capital
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CBDCs – The Folly of Digital Fiat
Source: Trends Pinoy
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