Cryptocurrency
Shift in payments habits because of coronavirus fears could bolster central bank digital currencies: BIS
As read on The Block, “A shift in payments behavior brought on by the COVID-19 pandemic – and concerns that physical cash might be a vector for the disease’s spread – could spur demand for digital methods like central bank-issued digital currencies (CBDC). “That’s one finding in a Bank of International Settlements (BIS) bulletin from April […]
As read on The Block, “A shift in payments behavior brought on by the COVID-19 pandemic – and concerns that physical cash might be a vector for the disease’s spread – could spur demand for digital methods like central bank-issued digital currencies (CBDC).
“That’s one finding in a Bank of International Settlements (BIS) bulletin from April 3, which noted that “The COVID-19 pandemic has led to unprecedented public concerns about viral transmission via cash.”
“And while ‘scientists note that the probability of transmission via banknotes is low when compared with other frequently-touched objects,’ as the notice points out, central banks have taken steps to sterilize paper currency, for example, to help assuage such fears…”