While the world is still fighting hard every day to get the coronavirus under control, another \u201ccold war\u201d is happening the background, the future of our money; the so-called Central Bank Digital Currencies (CBDC). Digital bank money is nothing new; worldwide only 8% of the money used is cash, the rest digital and in some European countries this is even less than 1%. The big difference with CBDCs is that the money is managed by a government and not a commercial bank. The revolution around cryptocurrencies and the underlying blockchain technology has sparked this discussion but has been accelerated over the past year by Facebook\u2019s Diem (formerly Libra) project and the announcement that China is well advanced in developing its own CBDC. What is a CBDC, what are they used for and what can you expect? In this blog you will find all the informationIt\u2019s going to be the biggest change in the global financial system after Bretton Woods, according to experts. While in the early years of Bitcoin and blockchain the technology was still dismissed as \u201ccriminal\u201d and \u201cunnecessary\u201d, in recent years the discussion has turned completely and most countries and economic regions have now started developing their own digital currency. According to research by the \u2018bank of banks\u2019, the Bank of International Settlements (BIS), dozens of central banks are now working on this, representing 80% of the world\u2019s population and 90% of economic activity worldwide and will be 20 in the next 3 years. % of the world\u2019s population have access to it.\u201cThe euro belongs to Europeans and we are its guardian. We should be prepared to issue a digital euro, should the need arise.\u201d Christine Lagarde, President of the ECBIn addition to Facebook and China\u2019s announcements surrounding its own digital currencies, corona has given the discussion an\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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