LONDON, March 25 (Reuters) - Global bank messaging network SWIFT is planning a new platform in the next one to two years to connect the wave of central bank digital currencies now in development to the existing finance system, it has told Reuters.
Around 90% of the world’s central banks are now exploring digital versions of their currencies. Most don’t want to be left behind by bitcoin and other cryptocurrencies, but are grappling with technological complexities.
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The mainstream articles often fail to mention the differentiation between retail and wholesale CBDCs. Here is a World Economic Forum document that clarifies some of the dystopic potentials of this differentiation:
Digital Currency Governance Consortium White Paper Series - 19 November 2021
Note: click on Download PDF to view, and go to page 181 for more details.