The International Monetary Fund (IMF) said that Central Bank Digital Currencies (CBDCs) would not provide all the solutions to the world’s economy. According to a report published by the IMF on the 19th of October, countries may adopt digital currencies to gain more control over their monetary policy. Apart from that, the creation of digital currencies is not a solution to the world’s challenges.
annual meetingsaidAccording to the PBOC’s deputy governor Fan Yifei, China has used the CBDC to process 3.13 million transactions, such as bar-code payments. In addition, tests will be conducted for the digital yuan at the 2022 Winter Olympics.
