Sentences with phrase «alternative central bank digital currencies»
The first alternative central bank digital currencies will make transactions more efficient.
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Digital currencies, such as bitcoin, are largely self - regulated and not backed by a central bank, making them popular as an alternative to fiat currency.
In turn, bitcoin businesses are booming in the country despite the fact that the central bank still insists digital currencies are not a viable alternative to fiat currency.
The dramatic increase came several days after the Bank of England published a research report on digital currencies, which looked into the possibilities of developing alternative forms of money by central banks.
A central bank digital currency could only gain public acceptance by providing a unique service that private alternatives do not offer: anonymity.
He also floated the idea of a central bank - issued flat digital currency as a workable alternative to private digital tokens and one that would also help to reduce the cost of printing notes.