IBM Exec Says Central Bank Digital Currencies Can Prevent Financial Crisis
Hello eSteemian!
Stanley Yong, global leader for central bank digital currency solutions (CBDC) at IBM, believes that CBDC can help prevent some of the risks that caused the 2008 financial crisis. Yong made comments during the interview on CNBC; s Squawk Box on November 14. CBDC is distributed and supervised by federal regulators and they are basically fiat centralized in digital form.
During the interview, Yong said that the CBDO gave "certainty of completion" for financial services and this is exactly what will help prevent the Lehman crisis in 2008. Yong then explained that settlement freezing occurs when the agency , lacks trust in shipping versus payment mechanisms , and CDBC solves this problem by providing transparency and better insight into institutional liquidity.
This post has been upvoted for free by @millibot with 5%!
Get better upvotes by bidding on me.
More profits? 100% Payout! Delegate some SteemPower to @millibot: 1 SP, 5 SP, 10 SP, custom amount
You like to bet and win 20x your bid? Have a look at @gtw and this description!
Thanks @millibot...
Thanks for using eSteem!
Your post has been voted as a part of eSteem encouragement program. Keep up the good work! Install Android, iOS Mobile app or Windows, Mac, Linux Surfer app, if you haven't already!
Learn more: https://esteem.app
Join our discord: https://discord.gg/8eHupPq
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by marsyudin from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.