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The Race to Place Blockchain In National Banking: Pioneers & Supporters?

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  • Tip Bones

If there were years of central banks talking about the blockchain talk, many experts believe that maybe this may be the year when they begin to "walk the blockchain walk."

Indeed, plans and actions regarding the creation and usage of blockchain-based systems, and central bank digital currencies, CBDCs have been highly publicized in some nations around the globe–and the rest of the world is taking note, too.

For example, a blog post by the International Monetary Fund (IMF), written more than a year ago, recommended that in addition to creating regulations for crypto assets not issued by governments, banks should explore issuing digital currencies as a way to, “make their money attractive for use as a settlement vehicle,” in a financial landscape, increasingly populated by cryptocurrencies.

"I believe we should consider the possibility to issue digital currency. With appropriate design, there may be a role for the state to supply money to the digital economy."