Bank of America researchers have said in the latest report published by the bank that digital currencies, CBDCs and stablecoins are the natural evolution of money and payments.
According to them:
"CBDCs do not change the definition of money, but will likely change how and when value is transferred over the next 15 years."
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According to them, central bank digital currencies have "the potential to revolutionize global financial systems and may be the most significant technological advancement in the history of money."
The bank's researchers are hopeful that monetary regulators in developed and developing countries will focus on payment efficiency and affordability.
However, CBDCs could compete with bank deposits, resulting in a "loss of monetary sovereignty" and increasing inequality between countries.
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