Lesetja Kganyago, the South African Reserve Bank governor, voiced his stance on CBDCs at a panel discussion at the World Economic Forum 2023 in Davos, Switzerland.
In a WEF 2023 panel discussion dubbed “In the Face of Fragility: Central Bank Digital Currencies” Kganyagohis opinions on CBDCs and questioned if there’s a real problem solved by this new technology. Kganyago said:
"Is this a solution looking for a problem or do we have some real problem that we are trying to solve?" The central bank governor also highlighted that the countries which are researching and looking to introduce CBDCs highlighted several reasons for its implementation. This includes the modernization of the central bank, making national payment systems more efficient, dealing with domestic market failure and strong financial inclusion.
However, the government official raised the question of demand. Kganyago pointed out there has to be a national conversation before introducing CBDCs. He argued that before introducing this to the public, central banks should make sure that the people actually want to use it. Following these points, Kganyago mentioned that the SARB is taking a cautious approach when it comes to CBDCs. “We are going to be good students when it comes to retail CBDCs and would rather be a follower than to be a first mover,” he said.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Davos 2023: Global recession in 2023 seen as likely in WEF surveyTwo-thirds of private and public sector chief economists surveyed by the World Economic Forum (WEF) expect a global recession in 2023, the Davos-organiser said on Monday as business and government leaders gathered for its annual meeting.
Weiterlesen »
CBDCs not worth the costs and risks, says former BoE advisorA take from the Financial Times on CBDCs. They could undermine crypto, although crypto is a 'bad candidate for money'.
Weiterlesen »
Bank of America Says CBDCs Are the Future of Money and Payments.BankofAmerica says CBDCs have the potential to revolutionize global financial systems and may be the most significant technological advancement in the history of money. By willcanny99.
Weiterlesen »
CBDCs Are the Future of Money, IBM Exec Says.IBM executive partner shyamnagarajan and Deloitte’s masseyrl both see CBDCs as being widely adopted as a form of payment. _franvela reports.
Weiterlesen »
Nick Kyrgios’ girlfriend, Costeen Hatzi, ‘devastated’ after his Australian Open exitNick Kyrgios' girlfriend, Costeen Hatzi, 'devastated' after his Australian Open exit
Weiterlesen »