Experts believe that this growth will be driven by the desire of central banks to use state-owned stablecoins to expand the access of citizens of developing countries to financial services and improve the economic situation in general. Juniper Research researchers suggested that even at an early stage of CBDC development, in 2023 the volume of transactions with this type of digital money could reach $100 million.
Central banks and other centralized bodies are exploring government cryptocurrencies to improve digital settlements and provide additional monetary services. At the same time, Central Banks can also use CBDC to control the movement of client funds, analysts do not exclude. Representatives of Juniper Research believe that by 2030, 92% of the total amount of transactions using digital currencies of the Central Bank will be carried out within countries. At later stages of implementation, state-owned cryptocurrencies will become more commonly used for international payments.
“Now cross-border payments require money and time, but central banks are more focused on introducing their own digital currencies at the local level. In order to use them in international settlements, it is necessary to attract payment networks, this will allow us to extract more benefits from CBDC, ”said Nick Maynard, author of the report.
Recently, former Commodity Futures Trading Commission (CFTC) Chairman Christopher Giancarlo said that privacy must be a mandatory component of government cryptocurrencies, otherwise they will violate the privacy of users.
Source: Bits
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