CBDC of the future must walk the line between state rules and crypto advantages
Broctagon CEO Don Guo has described the Bank of England’s decision to assess the potential benefits of a central bank digital currency (CBDC) as “ironic”.
“This move comes as no surprise. China has clearly lit a fire under these other nations, who are starting to recognise the inherent advantages of crypto.
“Countries who can correctly implement a CBDC will stand to benefit as they will have a currency which is totally borderless, efficient, and immutable.
“The irony of having a ‘centralised’ cryptocurrency seems to be lost on these state banks.
“The founding principal of crypto was decentralisation, so banks need to be careful that they don’t lose sight of the advantages that decentralisation can provide, otherwise there will be no real benefit of using the new currencies over fiat.
“Hopefully the CBDC of the future will be able to walk the line between state-issued currencies and the advantages of crypto.”
Read the full article on Coin Rivet.
About Broctagon Fintech Group
Broctagon Fintech Group is a multi-asset liquidity and technology provider headquartered in Singapore with over 10 years of established global presence in China, India, Russia, Cyprus, Hong Kong, Thailand and Vietnam. With our decade of serving satisfied clients in 50 countries, Broctagon is well-equipped to elevate companies through performance-driven and flexible turnkey solutions such as our liquidity aggregator technology, brokerage technology solutions, and enterprise blockchain development.