CBDCs not worth the costs and risks, says former BoE advisor By Cointelegraph

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CBDCs not worth the costs and risks, says former BoE advisor

Cryptocurrency Jan 16, 2023 10:20AM ET

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CBDCs not worth the costs and risks, says former BoE advisor

Central banks worldwide are pushing forward with digital asset projects despite the various crypto industry implosions over the past 12 months. China has rolled out its central bank digital currency (CBDC) to several cities, and it was available for use at the Winter Olympics.

Many other central banks, including the Bank of England, are considering how to roll out a CDBC, while Nigeria’s CBDC has had poor uptake so far. India has already launched a pilot scheme, while Mexico has confirmed the launch of a digital peso.

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