Trust essential to success of global CBDC usage, panellists argue
CBDCs are yet to prove they offer advantages over private sector initiatives
Central banks will need to focus on ensuring the public trust central bank digital currency (CBDC) and have incentives to use it, if they are going to maintain control of the payments sphere.
This was one of the conclusions of a panel during a Bank of Italy conference on cross-border payments.
“A lot of interest in issuing CBDCs reflects worries around central banks losing control over the payment system,” said Barry Eichengreen, professor of economics and political science at the University
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