Bank of Thailand to begin central bank digital currency tests in 2022
Explaining its motivation for creating a CBDC, the Bank of Thailand argued that the success of private stablecoins poses risks to “monetary sovereignty and financial stability.”
Interesting article about another central bank moving toward a digital currency, this time the Bank of Thailand. At least they are smart enough to see the writing on the wall, that crypto is going to change currency forever. Even if people don't move to true cryptos, these stable coins have the chance to really change things up. After all, if you're in South Africa why not hold a stable coin backed by say the Swiss government instead of the local government. It's a real option is you're not ready to go down the crypto rabbit hole. It's something to think about......
Read the full story here.....
https://cointelegraph.com/news/bank-of-thailand-to-begin-central-bank-digital-currency-tests-in-2022
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Peace & Love!
Thank you! Peace and love to you too.
I never thought of it that way, that people might change from one government backed digital currency to another. It'd probably be easy to do.....
Think about what will happen to the countries that have really bad currencies, even their citizens that are usually trapped in the local currency will be able to get out into another stable coins. What's the political and social effects of that??
That's a deep thought, we're heading for different times for sure.....