Countries such as the UK, Sweden, Japan and Canada have decided to speed up their digital money work in the past months. Countries like Canada have already begun to prototype their own digital currency project.
Marion Laboure, one of Deutsche Bank analysts, thinks that these studies will accelerate in the coming years. So much so that he says some digital central bank currencies (CBDC) will be available in the next 3 years.
Ready for 3 Years
Central banks, such as the US Federal Reserve (Fed), had to prepare trillions of dollars in incentive packages because of the Coronavirus. Central banks are trying to relieve the economy by delivering this money to companies and citizens.
Central banks inject this money into the economy, but it may take some time for this money to enter a company’s vault or a citizen’s pocket. In the simplest way, it takes 3 weeks to transfer the $ 1200 money aid to citizens in the USA.
That’s why Deutsche Bank analyst Marion Laboure believes that digital money work will accelerate for exactly this reason. If central banks digitize their own money, they can send this money wherever and whenever they want. Thus, central banks can better manage the money they inject into the economy. Laboure thinks that central banks will start to develop their own digital money in the next 3 years.
We call these projects “digital money” and classify them in this way, but it should not be forgotten that each central bank will develop a different project. In other words, digital money projects developed by two central banks may be completely different from each other.
Some central banks may benefit from blockchain technology while developing their own digital currencies, while others may prefer to use completely different infrastructures. This is also some anonymous, faster / slower, more useful / useless etc. of some digital central bank coins than others. means it will be.