Central bankers from “Davos”: Digital currencies are not in our plans at the moment

Central bankers from “Davos”: Digital currencies are not in our plans at the moment

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Answer Central bankers from “Davos”: Digital currencies are not in our plans at the moment

Central bankers explained in a panel discussion at the World Economic Forum “Davos”, that with the decline in the prices of cryptocurrencies such as Bitcoin and Ethereum and many investors affected by this, it seems unlikely at the present time that the adoption of digital currencies from central banks, until the behavior of cryptocurrencies becomes similar Just like traditional currencies.

“Bitcoin may be called a currency but it is not money, it is not a fixed store of value,” said Kristalina Georgieva, managing director of the International Monetary Fund.

Georgieva emphasized that the digital currencies of government-backed central banks can be stable, and this was also confirmed by François Villeroy de Gallo, the governor of the French Central Bank.

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The Managing Director of the International Monetary Fund added that digital money can be a global public good, helping people send remittances across borders so that it is easier to convert digital currencies than fiat currencies such as dollars and euros.

Francois Villeroy said: “Cryptocurrencies are not a reliable means of payment, someone must be responsible for the value and it must be universally accepted as a medium of exchange. It is not, some citizens have lost faith in cryptocurrencies due to the massive volatility.”

And the governor of the French Central Bank stated that El Salvador’s experience of using Bitcoin as a legal currency shows how dangerous embracing cryptocurrencies is.

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“I would prefer the citizens of El Salvador to have the euro,” he said sarcastically.

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