• The Bank for International Settlements (BIS) is overthrowing national currencies... Hear how they are leading the charge in creating the global digital currency?

  • Jul 10 2023
  • Length: 23 mins
  • Podcast

The Bank for International Settlements (BIS) is overthrowing national currencies... Hear how they are leading the charge in creating the global digital currency?

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  • Summary

    • A joint report between multiple organizations reveals CBDC’s potential for cross-border payments.
    • 87 countries are exploring the use of Central Bank Digital Currencies (CBDCs) to facilitate cross-border payments, with 9 having already fully launched and more in development.
    • The BIS proposes three models for setting up wholesale CBDCs for this purpose: compatible, interlinked, and multi-CBDC platforms.
    • Implementing CBDCs raises legal, regulatory, operational and cyber security issues, as well as potential macro-financial implications.
    • Conspiracy theorists [like us] suggest the BIS is trying to create a global digital currency that would replace national currencies, and exploit developing countries' monetary policies/resources.
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