Thomas Jordan, head of SNB which is responsible for Switzerland’s currency regime, proposed the concept of a cryptocurrency that the public could use.
In his Zurich speech, Mr. Thomas Jordan also pointed out that banks may have some inherent advantages over digital currency and all projects based on blockchain regarding the saving of time during payments, which can benefit businesses and consumers. Reuters has more to say.
“Consumers and businesses already have access to a wide range of efficient and innovative payment instruments offered by the private sector.
Nevertheless, the SNB is thinking over the “wholesale” CBDC possibility, which is limited to financial operations among the banks and other reference organizations. The campaign had been given its trial run last year to assess its effectiveness.
This news comes as central banks worldwide grapple with the potential of digital currencies.
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