Bank of America (BofA) crypto strategists Andrew Moss and Alkesh Shah said digital central bank coins (CBDC) are an “inevitable evolution” of today’s electronic currencies, according to a Jan.
Analysts said in a statement:
We anticipate that the adoption and use of CBDCs in payments will increase significantly as financial institutions and payments companies incorporate blockchain technology into their platforms.
they said.
by the Federal Reserve (FED) on January 20 published “Money and Payments: The US Dollar in the Age of Digital TransformationThe report, titled ”, evaluated the potential US adoption, advantages and disadvantages of CBDCs. Evaluation, safe and effective domestic payment systems will improve and between countries It was mentioned whether there will be faster payment options.
Strategists Shah and Moss noted that it is also possible to increase the use of digital currencies issued by private companies. However, the Fed said in its report that CBDCs will be different from other stablecoins because they will be the responsibility of the central bank.
The report also highlighted potential challenges such as maintaining financial order, maintaining user privacy, and combating illegal transactions.