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How long will it be until CBDCs become the norm?

 
How long will it be until CBDCs become the norm?
Breaking News / Crypto Market
  • Cuy Sheffield, the head of crypto at Visa took to Twitter last weekend to share his thoughts on central-bank digital currencies.
  • He said that these kinds of assets are the most important trends for the future of money and payments over the next 10 years.

Cuy Sheffield, the head of crypto at Visa took to Twitter last weekend to share his thoughts on central-bank digital currencies. He said that these kinds of assets are the most important trends for the future of money and payments over the next 10 years. 

Regardless of his personal views, Sheffield said that CBDCs are here to stay and with blockchain technology showing its capabilities of solving underline challenges with the current monetary system in place, if he won’t be long until governments will have to accept this form of currency.

He further goes on to talk about bitcoin saying that once the government clearly stipulated the rules and regulations surrounding the crypto space, the leading cryptocurrency will be able to thrive. He further adds:

“As governments evaluate CBDC, the path that they decide to take will have major implications for privacy, monetary sovereignty, geopolitics, as well as global adoption of crypto dollars and bitcoin”.

As CBDCs continue to grow in popularity, Sheffield believes that it is going to be a massive challenge in order to keep up with the news. Continuing:

“What used to be an occasional paper from an analyst at a central bank every few months has evolved into a steady stream of content from many different experts, academics, and organizations making it harder to keep up with the latest considerations,” he said.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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