Private sector partnerships could be the key to CBDC survival – IMF research
Central banks may find it “challenging” to keep up with pace of technological change
Central banks may have to become more like big tech firms if they choose not to partner with the private sector when issuing central bank digital currencies (CBDCs).
According to new research published by the International Monetary Fund, central banks will have to emulate the innovations of Microsoft and Apple if CBDCs are to remain at the “frontier of technology”.
“Innovation in the digital age is orders of magnitude more complex and rapid than updating security features on paper notes,”
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