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The CBDC Disruption – Social Media

Central Bank Digital Currencies (CBDCs) could prove to be the biggest disruptor to global finance yet — is the world ready for it, though?

For Twitter:

Flanked by increasing global recognition and technological windfall, the Central Bank-backed Digital Currency (CBDC), may indeed just turn out to be the biggest innovation to come into banking since the invention of the ATM machine.

For Facebook/LinkedIn:

Flanked by increasing global recognition and technological windfall, the Central Bank-backed Digital Currency (CBDC), may indeed just turn out to be the biggest innovation to come into banking since the invention of the ATM machine. Over 50 global monetary authorities, including several of the world’s major global central banks such as the Federal Reserve in the United States and the European Central Bank are now treading, albeit lightly, the tepid waters of the CBDC bandwagon. This follows the pilot scheme already undertaken by the Chinese, who have rolled out an electronic currency (the e-Yuan) to over 500,000 of its residents.

The adoption of the CBDC is a major step towards the recentralization of finance and will have several ramifications to global finance. On one hand, whilst it will assure a more efficient and transparent means of banking with the central bank directly, it could prove to be disruptive for retail banks and lenders in the financial sector. Several other aspects, such as the global positional power of the greenback and the recently $1 trillion-capped cryptocurrency market will be affected directly. Is the world prepared for this major disruption?

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