According to the head of the cryptocurrency sector of Visa, the digital currencies of the central bank, i.e.CBDC, may be one of the most important trends in the coming decade.
CBDC is the future of money
Cuy Sheffield, who runs the cryptocurrency projects of the credit card giant – Visa, wrote on Twitter:
“As governments assess CBDC, the path they choose will have a major impact on privacy, monetary sovereignty, geopolitics and financial integration, as well as the global adoption of cryptocurrency bitcoin dollars.”
“I say that the central bank digital currency (CBDC) is one of the most important trends for the future of money and payments over the next decade. Regardless of your personal views on whether this is good or bad, the reality is that global interest in the currency is not disappearing. “
Sheffield has been a supporter of CBDC for some time. In May, he stated that central banks are not interested in consumer digital money solutions. Visa is not ashamed of its interest in cryptocurrencies. At the beginning of this year, the company filed a patent application for its own digital currency.
CBDC in the world
A few days ago we reported that the Central Bank of Lithuania, July 9, will begin the pre-sale of its CBDC – LBCOIN. For now, it will be issued only for collector’s purposes. LBCOIN holders will be able to exchange it for a physical silver coin that will be accepted as a means of payment and will be worth 19.18 euros.
Last Thursday, we learned that the Central Bank of Japan plans to start CBDC testing by digitizing the Japanese yen.
The Central Bank of Canada recently published an analytical note for its employees in which it stated that CBDC should be similar to ordinary money.
“The UAD design could be based on similar principles and include visual and security elements similar to current banknotes. This would allow Canadians to see this device as a product of the Bank of Canada and accept it with confidence. “
– wrote in the note.
For now, China is the leader in creating their own central bank digital currency. The digital yuan may see the light of day in 2020, and according to the expert, society may not even notice changes.