{"id":31763,"date":"2020-11-14T10:52:02","date_gmt":"2020-11-14T08:52:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=31763"},"modified":"2025-08-28T05:18:04","modified_gmt":"2025-08-28T02:18:04","slug":"bis-central-bank-digital-currencies-will-not-supplant-cash","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bis-central-bank-digital-currencies-will-not-supplant-cash\/","title":{"rendered":"BIS: Central bank digital currencies will not supplant cash"},"content":{"rendered":"<p>Against the backdrop of central banks&#8217; work on central bank digital currencies (CBDCs), the role of cash in payments is declining, but it remains a store of value. This opinion <a href=\\\"https:\/\/www.bis.org\/speeches\/sp201113.htm\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">stated<\/a> by Beno\u00eet C\u0153ur\u00e9, head of BIS&#8217;s Innovation Hub.<!--more--><\/p>\n<blockquote>\n<p>\u201cIn the euro area, unlike Sweden or China, demand for banknotes remains high. People continue to stash money under mattresses,\u201d he noted.<\/p>\n<\/blockquote>\n<p>In his words, no one wants to force consumers to choose a payment method, as variety fuels innovation.<\/p>\n<p>C\u0153ur\u00e9 added that CBDCs are simply the digital equivalent of banknotes and coins.<\/p>\n<p>He believes that CBDCs do not necessarily have to be blockchain-based solutions. For example, the Chinese digital currency does not use the technology; the ECB has also considered a solution based on existing payment infrastructure, the BIS Innovation Hub head noted.<\/p>\n<p>C\u0153ur\u00e9 thinks hybrid solutions are possible, with DLT technology used in relations between the central bank and commercial banks, while among individuals digital currency would spread through more traditional channels.<\/p>\n<blockquote>\n<p>\u201cWe have no preconceived bias, but blockchain is, of course, one of the options,\u201d he clarified.<\/p>\n<\/blockquote>\n<p>Among the countries that are most advanced on CBDC, C\u0153ur\u00e9 named <a href=\"https:\/\/u1f987.com\/en\/news\/media-beijing-to-run-a-citywide-test-of-the-digital-yuan\">China<\/a>, Sweden and <a href=\"https:\/\/u1f987.com\/en\/news\/bahamas-rolls-out-sovereign-digital-currency\">Bahamas<\/a>.<\/p>\n<p>As noted, Deutsche Bank analysts <a href=\"https:\/\/u1f987.com\/en\/news\/deutsche-bank-in-the-long-run-cbdcs-will-supplant-cash\">have come to the conclusion<\/a> that, in the long run, digital currencies will replace cash.<\/p>\n<p>Subscribe to ForkLog News on Telegram: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As central banks&#8217; CBDC developments unfold, the role of cash in payments is diminishing, but it remains a store of value. This view was expressed by Beno\u00eet C\u0153ur\u00e9, head of BIS&#8217;s Innovation Hub.<\/p>\n","protected":false},"author":1,"featured_media":31764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1430,1095,1138],"class_list":["post-31763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bis","tag-cbdc","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=31763"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31763\/revisions"}],"predecessor-version":[{"id":31765,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31763\/revisions\/31765"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/31764"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=31763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=31763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=31763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}