IMF President Kristalina Georgieva said CBDCs could be a safer option in the digital world.
Goergieva also said that CBDC will not work in every country and countries should plan to chart their own course.
According to the research conducted by the IMF, about 100 organizations are operating to launch their own CBDC.
The IMF Director believes that the prudently designed CBDC can provide greater flexibility for the local financial network, while additionally reducing transaction costs. Georgiava stated that such a digital product would be safer than cryptocurrencies, which have an unsupported and volatile structure. Still, according to him, CBDC is not for everyone.
“It’s still early for CBDC. We do not know exactly how far and how fast one can go”
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