IMF Develops Global Digital Currency Platform!

The International Monetary Fund (IMF) has announced that it has plans for central bank digital currencies (CBDC), where countries have begun to intensify in recent years. IMF Managing Director Kristalina Georgieva a global platform for these currencies He said they were working on it.

Speaking at a conference held in Morocco, Georgieva emphasized the need to work together and for these currencies, which are expected to become widespread in the future, more efficient and fair transactions and added that they need interconnected systems. In the next, “That is why we are working on the concept of a global CBDC platform at the IMF.” used the phrases.

The platform will enable countries to perform transactions between each other.

Thanks to the platform on which the IMF works, it is possible to exchange digital currencies between countries. action can be taken it states. It also highlights the importance of central banks meeting on a common ground for CBDC. Georgieva adds that they think the inability to agree on a platform will likely create a vacuum to be filled with cryptocurrencies.

Central bank digital currencies, or CBDCs for short, are unlike decentralized cryptocurrencies. digital currencies controlled by central banks it’s called. You can think of them as digital versions of currencies. Many countries; CBDCs are favored for reasons such as reducing costs, speeding up transactions, increasing financial inclusion, making remittances cheaper.

Worldwide, according to the IMF 114 central banks Researching CBDCs. It is stated that about 10 of them have completed their studies. In our country, studies on the digital Turkish lira continued. In fact, at the end of 2022, the first transaction was made with the digital Turkish lira.