President of the International Monetary Fund (IMF) Kristalina Georgievasaid central bank digital currencies (CBDC) could replace physical money.
IMF President Georgieva said that many central banks around the world are researching and tokenized equivalent of fiat money He commented on central bank digital currencies (CBDC).
Some officials at the European Central Bank say CBDCs can replace physical money Although he is skeptical, the IMF President sees this as a possibility. Georgieva:
“CBDCs, It is costly to distribute (money) It can replace physical currencies in island economies. They can offer flexibility for developed economies. Also, in places where few citizens have bank accounts financial participation “They can heal.”
IMF chief still unsure of how CBDCs will be implemented “too much uncertainty” Even though he says it is “We are not in a period of return” he stated.
Public sector for CBDCs and related platforms “preparation” Georgieva said that these platforms should be especially for cross-border payments should be designed because these processes are “expensive and slow” said that.