Central should leave issuance of digital currencies to corporations such as and , according to a and financial partner at France, reports March 22.
According to PwC France’s Pauline Adam Kalfon, should stay away from the issuance of central bank digital currencies (CBDCs) until large corporations test out the of currencies themselves.
Only when are “battle-tested by corporations,” should central banks make a move towards the crypto space, Kalfon argued, adding that it will reduce the likelihood of potentially negative consequences on the economy arising from any central bank issuing a digital currency.
Kalfon elaborated that central bank, Banque de France, may not be the best entity to launch a digital currency project, explaining that the bank will be operating under the European Central Bank (). She said:
“It is clear that a European-level project would be very complex and challenging governance-wise, requiring alignment and the political consensus of all relevant stakeholders from each Member State.”
In mid-February, JPMorgan plans to launch its own crypto, JPM Coin, to increase settlement efficiency. Following the , JPMorgan CEO that the company’s new could have a consumer use one day.
Facebook was first to develop its own crypto in December 2018, while The New York Times (NYT) an article in late February alleging that the social media giant is developing a that would incorporate Facebook’s three fully-owned apps — , Facebook Messenger, and Instagram.
In January, the Basel Committee on Banking Supervision (BCBS) that 70 percent of global central banks are exploring the benefits of CBDCs.
Published at Sat, 23 Mar 2019 02:14:53 +0000
