· Agustín Carstens Wiki · Bank for International Settlements WikiCBDCs for the People
Read full speech on bis.org ↗ContextOp-ed by Agustín Carstens, General Manager of the BIS, and H.M. Queen Máxima of the Netherlands, the United Nations Secretary-General's Special Advocate for Inclusive Finance for Development, published by Project Syndicate, 18 April 2022.
Why it mattersCarstens argues that digital currencies do not automatically include the unbanked.
Problems raised
- Financial inclusion is not automatic with CBDCs.
- Unbanked people lack access.
- Literacy and cybersecurity are challenges.
Solutions proposed
- Design CBDCs for inclusion.
- Accompany rollouts with policy reforms.
- Address literacy and cyber risks.