Tech adoption by banks
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An official from the international monetary fund (imf) suggested that central banks need to make fiat currencies more attractive for the digital age in an article published may 31.
Imf official calls for regulation, tech adoption by banks to fight crypto competition.
Deputy director of the monetary and capital markets department dong he suggested three responses to combat potential competition to central banks from.
If you had visited china about 15 years ago, you would have been frustrated at how you could not do or buy much with a credit card.
An imf official said that central banks should compete with cryptocurrencies by making fiat currencies better and more stable units of account.
Banks and other financial institutions are adopting blockchain technology dramatically faster than initially expected, with 15 percent of top global banks intending to roll out full-scale.