Finans

CBDCs still have not found their raison d'être

Any problem on payments is better solved through more practical alternatives.

CBDCs’ proponents champion them on financial inclusion grounds, as a way of providing digital financial services to the unbanked. Yet countries such as India have shown that there are more practical ways to do this. Provide residents with a unique digital identifier, mandate the banks to provide low-cost, no-frills accounts, and install a system to facilitate interbank transactions through mobile phones. Voilà: problem solved.
CBDCs’ proponents champion them on financial inclusion grounds, as a way of providing digital financial services to the unbanked. Yet countries such as India have shown that there are more practical ways to do this. Provide residents with a unique digital identifier, mandate the banks to provide low-cost, no-frills accounts, and install a system to facilitate interbank transactions through mobile phones. Voilà: problem solved.Foto: Dhiraj Singh/Bloomberg
  • Barry Eichengreen (FT)
Publisert 5. December 2023, kl. 14.19Oppdatert 5. December 2023, kl. 14.19
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