Ethereum co-founder Vitalik Buterin believes that central bank digital currency (CBDC) will be easily converted to encrypted currency in the future.
Buterin said at the Singapore Fintech Festival 2020 held on December 9th that he hopes that there are many ways to exchange CBDC into cryptocurrencies such as Bitcoin and other digital tokens:
“How these central bank (digital) currencies will interact with cryptocurrencies and digital currencies on a broader scale is a question. There will be more different types of digital assets in the next few decades. I hope there will be many opportunities. Fair exchanges between different types of assets and transfer from one ecosystem to another.”
Buterin also expressed optimism about the development of global CBDC, and pointed out that central bank digital currency has many potential benefits, such as simplifying the macro economy. However, Buterin pointed out that the CBDC concept is accompanied by many related issues, such as privacy issues.
At the event, Buterin also briefly introduced the blockchain-based COVID-19 vaccine distribution tracking, and pointed out that this is a good example of a supply chain use case.
The co-founder of Ethereum is confident that blockchain will bring more similar use cases in the future, especially as scalability increases. He added: “As far as the new crown pneumonia vaccine is concerned, the main challenge is that it takes time to make these things. People want to get these vaccines fairly quickly so that the world can return to normal.”
In the past two years, the concept of CBDC has become one of the biggest trends in monetary policy, and countries such as China and Sweden are experimenting with CBDC. In mid-November, Germany’s largest banking institution Deutsche Bank predicted that in the long run, CBDC will replace cash.
Cointelegraph Chinese is a blockchain news information platform. The information provided only represents the author’s personal views, has nothing to do with the position of the Cointelegraph Chinese platform, and does not constitute any investment and financial advice. If you need to reprint, please contact the relevant staff of Cointelegraph in Chinese.
