A Group of Central Banks Team Up to Study Digital Currencies

The central banks of Britain, Japan, the euro zone, Sweden and Switzerland have teamed up with the Bank for International Settlements (BIS) to study use cases for digital currencies; the Facebook announcement of Libra has helped to push central banks in this direction as many believe the conversation has changed since the social media giant released their plans; “The group will assess CBDC use cases; economic, functional and technical design choices, including cross-border interoperability; and the sharing of knowledge on emerging technologies,” the newly formed group said in a statement according to CNBC. CNBC

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