Chilean Central Bank Governor Rosanna Costa said the CBDC needs to be carefully analyzed before it can be integrated into the country’s financial ecosystem.
The Central Bank of Chile delayed the launch of the CBDC, stating that additional research and analysis would be done.
The nation’s central bank released a report focusing on the CBDC, addressing the potential risks and benefits. Apparently, the bank is optimistic that such a product can protect the consumer.
“A CBDC will contribute to the achievement of an inclusive, flexible, competitive, innovative and integrated payment system that protects people’s information”
He argued that it could be a suitable alternative to cryptocurrencies such as Bitcoin that can be used.
Despite all these positive comments, the bank has backed out of its intention to launch a CBDC by the end of 2022. President Costa stated that before it can be integrated into the country’s financial network, it must be worked both online and offline.
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