Underlying any significant change to digital payments will be the implementation of a national e-ID system.
A CBDC system may need to be interoperable or substitutable with other systems to be able to serve as an additional payment method and provide further resilience to the payment system.
“We cannot outsource our development…the pace of our development is at the mercy of decision makers within and outside our environment.”
CBDCs involve various areas, including compliance, which can lead to the development of innovation in ways that more traditional financial institutions can participate in.
Eastern Caribbean Central Bank to launch DCash digital currency at month’s end.
