Kristalina Georgieva, managing director of the IMF, believes that a “carefully designed” CBDC can provide more flexibility for local financial networks. while also reducing transaction costs
Georgieva also claims that such CBDC products will be “safer” than cryptocurrencies, however, she did not mention that CBDCs are also highly centralized. Because they are operated by the central bank. Unlike bitcoin and other crypto assets
Ultimately, however, Georgieva insists that “there is nothing that works for everyone” when it comes to CBDCs. “This is still early days for CBDC and we don’t even know how far and how fast it will go.”
Central bank digital currencies have become the most popular topic of discussion among financial authorities. As they are trying to find ways to mitigate the impact of private cryptocurrencies. However, the IMF’s managing director believes that each country must follow its own path, as the CBDC will not be available in all countries.
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