Bank of America: Digital Currencies Will Change Global Financial System
Main page News, Banking, Cryptocurrency
Hot topic
Jan. 18, 2023

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."

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

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.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error