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Central bank digital currencies are going to play a major role in the global financial system and in 2022 billions of citizens from all over the world will realize this. We live in a digital work and are based in a digital economy. This digital economy will make things easier and more cost effective for countries to run their Digital payment systems. This can then build out incentive based systems to make it more beneficial for citizens to use their currencies.
We are seeing digital dollars called the Fed Coin being created, digital peso, digital lira, digital yuan and many other digital currencies all being created. There are some concerns here regarding privacy that will likely be much more widely discussed coming soon.
We will see many people excited to participate and many not so excited to participate in central bank digital currencies. One way I believe that CBDC’s get rolled out is through stimulus and a universal basic income.
Do you believe that central bank digital currencies will become the future or do you think that many will lean into bitcoin, ethereum and other digital currencies?