Central bank cryptocurrencies without added value? - Crypto researcher expresses concerns about CBDCs

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Von: Krypto News Österreich

Zentralbank-Kryptowährungen ohne Mehrwert? In einem Interview mit The Block äußerte sich Fadi Aboualfa, der Forschungsleiter des Krypto Brokers Copper, kritisch über digitales Zentralbankgeld, auch bekannt als Central Bank Digital Currency (CBDC). Er ist der Meinung, dass diese digitalen Währungen keinen Mehrwert für den täglichen Gebrauch bieten und stattdessen Schwierigkeiten für das System und Händler mit sich bringen werden. Aboualfa stellt fest, dass die CBDCs noch in der Entwicklung sind und es viele Herausforderungen gibt. Er glaubt jedoch nicht, dass sie eine Zukunft haben, da sie kein tragfähiges Bargeldäquivalent für den täglichen Gebrauch sind. Er äußert Zweifel an den aktuellen Modellen …
Central bank cryptocurrencies without added value? In an interview with The Block, Fadi Aboualfa, the research manager of the Krypto Brokers Copper, commented critically about digital central bank money, also known as Central Bank Digital Currency (CBDC). He believes that these digital currencies do not offer added value for daily use and instead difficulties for the system and dealers will bring. Aboualfa notes that the CBDCs are still under development and that there are many challenges. However, he does not believe that you have a future because you are not a sustainable cash equivalent for everyday use. He expresses doubts about the current models ... (Symbolbild/KNAT)

Central bank cryptocurrencies without added value?

In an interview with The Block, Fadi Aboualfa, the research director of the Krypto Brokers Copper, commented critically about digital central bank money, also known as Central Bank Digital Currency (CBDC). He believes that these digital currencies do not offer added value for daily use and instead difficulties for the system and dealers will bring.

Aboualfa notes that the CBDCs are still under development and that there are many challenges. However, he does not believe that you have a future because you are not a sustainable cash equivalent for everyday use. He expresses doubts about the current models and emphasizes that the technology is missing to implement these ideas.

Another point of criticism that Auboualfa appeals is is the competition that would result from the CBDCs. He believes that consumers will only have two ways to spend digital currencies: via a central bank or a commercial bank. This would lead to an unfair competition because the central banks do not have the technical capacities to fully offer the digital currencies. This would have a big disadvantage for both the banks and the customers who want to buy CBDCs

Aboualfa also warns of the risks for banks and customers who could be connected to CBDCs. If turbulence occurs in the classic financial market, the CBDCs could be affected. He refers to the example of Silicon Valley Bank, which had to register bankruptcy this year. Investors who had bought CBDCs from the bank at the time would have been lost within a few days.

The researcher emphasizes that the design, handling and the mediation between consumers and dealers are still insufficiently taken into account when developing CBDCs. It is important that the various central banks can bring in their own considerations and requirements.

Despite the criticism, there are current projects for the introduction of digital currencies in the countries. Within the European Union, it is planned to launch the digital euro from 2027. Consumers should only need their cell phone and can use an internet letter bag. How the output of the digital euro should be implemented is still unclear.

The introduction of CBDCs is an attempt by central banks to react to the growing interest in cryptocurrencies. However, the technology still has to prove that it can work on a large scale.

Despite the criticism, CBDCs are an issue that is still being discussed. It remains to be seen how the development will develop in the coming years and whether they can actually be used in everyday life.