In a recent keynote speech to the London School of Economics, International Monetary Fund (IMF) Deputy Managing Director, Tao Zhang, briefed the positives and negatives of a central bank digital currency (CBDC).
Zhang pointed toward greater efficiency and lower costs associated with a CBDC. “In some countries, the cost of managing cash can be very high on account of geography, and access to the payments system may not be available to the unbanked, rural, or poorer population,” he said in the Feb. 28 speech, which hit the web on March 19.
Continue Reading on Coin Telegraph
