According to the latest report of the International Monetary Fund (IMF), in the world there is a significant increase in state-owned banks for cryptocurrency and blockchain technology . In particular, already 15 central banks have designated their open position, among them such countries as:
- Canada,
- Sweden,
- Norway,
- Bahamas,
- China,
- Curaçao and Sint Maarten,
- East Caribbean region,
- Ecuador,
- Senegal,
- Tunisia,
- Uruguay.
An unexpected increase in interest in cryptocurrencies from central banks occurs at a time when the market for digital currencies is falling.
The adoption of cryptocurrency as a means of payment by private players is likely to encourage banks to experiment with new payment technologies. In addition, the introduction of digital payments has already changed the work of the “global financial system”.
The reports mention two main reasons why central banks consider digital payment solutions.
The very first reason indicated is that "cryptocurrency reduces the role of cash." Banks intend to reduce their costs by converting printed notes into digital tokens .
The second reason is the opportunity to give millions of people who currently do not have access to banking products, the opportunity to use modern financial services.
