[Blockchain Today Correspondent Lee Ji-eun] With respect to the issuance of electronic money or central bank digital currency (CBDC) by Deloitte, the world’s fourth largest accounting firm, Bitcoin can provide significant help in terms of speed, security, efficiency, and external payment. announced that there is
Cointelegraph reported on the 15th (US time) that Deloitte, a British multinational accounting firm, recently released a report titled ‘State-Sponsored Cryptocurrency’.
In the report, Deloitte points out that “the traditional fiat ecosystem is slower, more error-prone, and more expensive than other high-tech industries, so it needs a complete redesign,” and Bitcoin could help dramatically improve this area. emphasized that In other words, it is argued that Bitcoin can help build a cheaper, faster and safer e-money or CBCD ecosystem by providing improvements in five main areas: speed, security, efficiency, external payments, and collaboration with other payers.
In this regard, the report explains, “the results will be truly transformative, as there is the potential to be implemented without the day-to-day operation of a centralized organization, whether commercial or public.”
Deloitte pointed out that Bitcoin and CBDC differ in several ways, highlighting the key inflationary characteristics of fiat currencies. “The CBDC has no cap on the money supply in the ledger, and a centralized government can define its value,” he said.
“The first countries to implement CBDC will have an ‘early bird’ edge in influencing the use of their currencies in international markets and trade,” the report said. After the issuance of the CBDC, the cryptocurrency exchange predicted that it would be able to maintain the function of ‘exchange the user’s cryptocurrency to another fiat currency and receive an exchange fee in return for external payment’.
In a scenario like this, the bank would act as a custodian of the distributed ledger, arguing that it would compete with other miners for rewards or fees after transaction processing.
Finally, we conclude that CBDC will not replace Bitcoin or other cryptocurrencies on a one-to-one basis, but ‘mainstreaming CBDC’ will open up additional options for users to choose the most appropriate payment method.
Although Cointelegraph is working to introduce CBDCs in many countries around the world, it cites Jamaica as an example, noting that one of the key factors for its successful implementation is ‘widespread adoption’.
Jamaican Prime Minister Andrew Holness has announced that he will pay $16 in prize money to the first 100,000 Jamaicans who use it to promote ‘wide adoption’ of Jam-Dex, the Jamaican CBDC. there is a bar According to Cointelegraph, about 17% of Jamaica’s population does not use a bank at all, and the issuance of Jamdex plans to encourage low- and middle-class citizens to join the national banking system.
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