Yesterday the Atlantic Council published an updated document calling for global interoperability standards around central bank digital currency (CBDC). It’s concerned that there’s a risk of creating CBDC walled gardens without standards. This echoes similar concerns raised earlier this week by a senior IMF executive who warned of the technological fragmentation of global payments.
The Atlantic Council is an American politically bipartisan organization that advocates “constructive U.S. leadership in the world alongside friends and allies.” We later analyze whether the U.S. can influence standards if its CBDC activities are limited.
The authors wrote, “The deployment of domestic CBDCs must not be considered in isolation, or the result will be walled gardens that stand apart from global commerce and economic trends.”
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