Judging by the buzz around central bank digital currencies (CBDCs), the likelihood that we will soon be spending and exchanging on a blockchain ledger are pretty high. The promise of central bank digital currencies (CBDCs) for regulated and compliant payments with faster settlement and increased liquidity management, comes at a time when the Bank of International Settlements estimates that over 80% of the central banks are looking at blockchain as a place to issue digital currencies. Even the European Central Bank (ECB) is researching how to digitize the Euro. Well, for a start not all digital currencies or payment systems will need blockchain; for example, the FedNow real-time payment system might not have a blockchain component. One thing is certain: In 2020 we will see a lot of activities around central bank digital currencies and their usage could be the de-facto killer app for the blockchain technology.

Source: Forbes February 06, 2020 14:15 UTC