BIS shows hand - CBDCs can do it better!
Who is the BIS (Bank for International Settlements) https://www.bis.org/
BIS Sphere of Influence - Pretty well encompasses the globe except for several nations ending in 'stan' and the Chinese influenced countries in Africa.
Current BIS report shows 90% of Global Governments are exploring CBDCs and retail payment systems. The resounding theme in the document is "Whatever Crypto can do, CBDCs can do better". Better wake up folks, the BIS is starting to unravel the CBDC 'present' for the world!
Download a copy yourself herehttps://www.bis.org/publ/arpdf/ar2022e.htm
CBDC Running Total - three live retail CBDCs with 28 pilots. With China's digital yuan holding the dominant position with 261 million users. Additionally, 60 jurisdictions have fast retail payment systems.
BIS report also piled onto last weeks DeFi break-down) and well as:
- structural flaws, arguing that a lack of stable nominal anchor, scalability issues, fragmentation, and unregulated intermediaries all pose risks to the space.
- the numerous Crypto related hacks (Exchanges, Bridges etc)
- soul of money” was trust
- Wait for it "Central Bank Institution Prefers Central Banks"
Seeking other articles on BIS?
BIS has two CDBC Platform prototypes:
- Stay informed, stay relevant, spread the word about decentralization and the greatness that is Crypto and why everyone should be wary of CBDCs. As Central Bank Institution Prefers Central Banks!
