Andrew Bailey argued that the problem that the CBDC is trying to solve has to be clear before people get carried away by the technology and idea.
Andrew Bailey, the Bank of England governor, expressed skepticism on the need for a digital pound shortly after finance ministers from eurozone countries backed further work on a digital euro.the need for a wholesale central bank digital currency citing that there already is a “wholesale central bank money settlement system with a major upgrade.”
“We have to be very clear what problem we are trying to solve here before we get carried away by the technology and the idea.”
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