The Central Bank of Chile has postponed the launch of its own digital currency, saying it requires deeper knowledge of the market, as well as an examination of the benefits and risks.
According to reportThe launch has been pushed back to the end of this year. Bank analysts gave a preliminary assessment of the Chilean digital currency. According to them, the country’s current payment system is working quite correctly and has managed to adapt to the new market situation, and the launch of the digital peso will have a positive impact on it.
“The digital peso will help create a competitive, inclusive and innovative payment system that can protect people from financial risks,” the report says.
However, for now, the bank believes that it does not have enough information and knowledge of market conditions to make a final decision. In the near future, the Central Bank of Chile will hold a series of seminars and meetings with various counterparties, and their result will be a final report in which the bank will announce its decision.
Now the Central Bank is confident that the digital peso will become a good alternative to cryptocurrencies, which do not yet claim the place of fiat currencies, but have such potential. In the future, cryptocurrencies, officials believe, can significantly affect the functioning of the financial system.
Recall that at the end of last year, the Chilean Senate considered a proposal to recognize bitcoin as legal tender. The bill provided for the regulation of the circulation of cryptocurrency.
Source: Bits
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