CBDC and Governments

[MUInetwork]

It's clear that the mainstream use of digital currency is closer than ever before, and especially after the pandemic, the demand for such technology has only gone higher. However, bringing this new technology to the market and expecting everyone in the world to accept and also implement it is a pretty high feat to achieve. It's difficult for the government bodies as well to build an infrastructure that takes care of every aspect of the economy.
But despite all the challenges and struggles, governments all around the world are very much intrigued and involved in making CBDC a possible reality. According to a recent announcement by G20, the IMF, the World Bank, and the BIS are working towards building a proper framework and research on CBDC design and technologies by the end of 2022. Along with this, the IMF and the World Bank are also expected to have a working infrastructure involving CBDC transactions by the end of 2025.

To know why governments are so dedicated towards CBDC, head to - https://sovereignwallet.medium.com/why-are-governments-looking-into-cbdc-cf8b4f4c172

[cryptoboss2020]

they got always some killer moves always got the plan we can surprise whats their next things are after 10 years...?


probably out of space activity

[BADecker]

Your answer could easily have something to do with the following.


Currently, borrowing money from a bank is really the creation of new money. The bank doesn't lose anything if you default on the loan, since it was a creation of new, and not really a loan.

The bank is enriched beyond what they deserve by the so-called loan and interest payments received for nothing.


A default blockchain currency could easily use separate blockchains for every bank. This would cut down on the big blockchain ledger of Bitcoin. It would also allow the creation of new money to be hidden in the scripting code of the program. This would make it harder to find for the people who wanted to prove the fact of bank enrichment for nothing.