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CBDCs for the People

· Agustín Carstens, General Manager of the Bank for International Settlements (International)

Summary written by Dark Majestic in its own words · topics: payments, digital money and crypto-assets, technology, ai and cyber risk

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· Agustín Carstens Wiki · Bank for International Settlements WikiCBDCs for the People

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
  1. Financial inclusion is not automatic with CBDCs.
  2. Unbanked people lack access.
  3. Literacy and cybersecurity are challenges.
Solutions proposed
  1. Design CBDCs for inclusion.
  2. Accompany rollouts with policy reforms.
  3. Address literacy and cyber risks.
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