The International Monetary Fund (IMF) managing director has called for a “ prudently designed” central bank digital currency to rival private forms of crypto-assets and stablecoins. “If CBDCs are designed responsibly, they can potentially offer more resilience,” said Kristalina Georgieva during an interview last week. However, she continued by acknowledging that while these types of currencies may have their benefits in certain circumstances, they come with risks. The future of money, cryptocurrency, and central bank digital currencies was the topic at hand for IMF Managing Director Kristalina Georgieva last week when she spoke before an audience at Atlantic Council in Washington D.C. Related Reading | Bitcoin Price Rises As El Salvador Rejects IMF Call To Ditch BTC Central banks are in the experimentation phase with digital currencies, but it’s still early days. We don’t know how far they will go or fast this new technology could take us. The idea of Central Bank Digital Currency (CBDC) has been gaining momentum lately – not only because of its potential for reduced inflation rates and increased monetary stability across countries; but also due to recent developments within financial sectors around the world, which show strong interest among investors looking ahead at what may come next. IMF Managing Director Georgieva said; If CBDCs are designed prudently, they can potentially offer more re...
