• Skip to main content
  • Skip to primary sidebar

Biz Builder Mike

You can't sail Today's boat on Yesterdays wind - Michael Noel

  • Tokenomics is not Economics – Digital CX -The Digital Transformation
  • Resume / CV – Michael Noel
  • Contact Us
  • Featured
You are here: Home / Blockchain / SARB governor: CBDCs must tackle a “serious challenge” at WEF 2023.

Jan 18 2023

SARB governor: CBDCs must tackle a “serious challenge” at WEF 2023.

At the World Economic Forum (WEF) 2023, which was hosted in Davos, Switzerland, South African Reserve Bank (SARB) governor Lesetja Kganyago addressed some of the difficulties that surround the adoption of central bank digital currencies (CBDCs).

Kganyago shared his thoughts on CBDCs at a panel discussion at the World Economic Forum 2023 titled “In the Face of Fragility: Central Bank Digital Currencies.” He questioned whether or not there is a genuine issue that can be handled by this new technology.

Kganyago questioned whether or not this was a case of a solution seeking for a problem, or whether or not there was a genuine issue that needed to be addressed.

The governor of the central bank also brought up the fact that the nations who are looking into CBDCs and doing research on them have cited a number of different reasons for wanting to establish them.

This involves bringing the central bank up to date, improving the efficiency of national payment systems, addressing the failure of domestic markets, and ensuring that everyone has access to sufficient financial resources.

On the other hand, the official from the government brought up the issue of demand.

Before CBDCs can be implemented, there has to be a discussion on a national level, as Kganyago pointed out.

He stated that before making this available to the general public, central banks should first determine whether or not the general public is interested in using it.

In light of these arguments, Kganyago said that the South African Reserve Bank (SARB) is approaching the issue of CBDCs with extreme caution. According to what he had to say, ” We are going to be excellent pupils when it comes to retail CBDCs,” and ” I would rather be a follower than a first mover.”

Back in 2021, the governor of the SARB expressed his disagreement with the notion that cryptocurrencies should be classified as currencies.

The official from the government said that cryptocurrency only satisfies two of the three standards for currencies, and argued that it does not have widespread usage.

[mailpoet_form id="1"]

SARB governor: CBDCs must tackle a "serious challenge" at WEF 2023. Republished from Source https://blockchain.news/news/sarb-governor-cbdcs-must-tackle-a-%22serious-challenge%22-at-wef-2023 via https://blockchain.news/RSS/

Written by bizbuildermike · Categorized: Blockchain · Tagged: blockchain

Primary Sidebar

https://youtu.be/Qvad1CQ9WOM

Blockchain Weekly Rebooted –

During the Blockchain Spring 2016 to 2020 I hosted Blockchain Weekly. Each week I interviewed someone who was doing interesting things in the blockchain space. At one time we had 29k subscribers and we were consistently getting over 15k views a week on the channel. All of that went away during the lockdown, including the Gmail address that controlled that channel. Recently, I found some of the original videos on some old hard drives. So I’m reposting a few of the relevant ones while I am starting to shoot new Blockchain Weekly Episodes to be aired 1st quarter 2023. Please subscribe to bless the You Tube Algorithm, and allow me to let you know about any updates! Our Sponsor – https://BlockchainConsultants.io

The Utah State Legislature has approved a new law, the Utah Decentralized Autonomous Organizations Act, providing legal recognition and limited liability to decentralized autonomous organizations (DAOs). This legislation, also known as the “Utah LLDs,” was passed after the combined efforts of the Digital Innovation Taskforce and the Utah Blockchain Legislature. The Utah DAO Act defines […]

Search Here

Market Insights

  • FTX Founder Allegedly Sought Federal Regulation Before Collapse
  • DeFi Hack Linked to North Korea
  • US Banking Crisis Fuels Regulation Debate
  • HSBC approves multi-million-pound bonuses for Silicon Valley Bank UK staff
  • Swiss regulators consider UBS takeover of Credit Suisse to prevent collapse
  • Mid-Size Banks Ask for Deposit Insurance Extension
  • Former Coinbase CTO Bets $1 Million on Bitcoin Reaching $1 Million in 90 Days
  • Binance Responds to U.S. Senators Letter, Excludes Financial Data
  • Crypto Entrepreneur Bail Package Revised
  • DeFi Hacker Returns $5.4M to Euler Finance

Tags

AI (259) andrewchen (4) Biz Builder Mike (28) Blockchain (824) Crowd Funding (68) crowdfundinsider (2) entrepreneur (957) eonetwork (42) Front Page Featured (33) MIT AI (89) startupmindset (145) Technology (667) virtual reality (1) youngupstarts (99)
  • Twitter
  • Facebook
  • About Us
  • LinkedIn
  • ANTI-SPAM POLICY
  • Google+
  • API Terms and Conditions
  • RSS
  • Archive Page
  • Biz Builder Mike is all about New World Marketing
  • Cryptocurrency Exchange
  • Digital Millennium Copyright Act (DMCA) Notice
  • DMCA Safe Harbor Explained: Why Your Website Needs a DMCA/Copyright Policy
  • Marketing? Well, how hard can that be?
  • Michael Noel
  • Michael Noel CBP
  • Noels Law of decentralization

Copyright © 2023 · Altitude Pro on Genesis Framework · WordPress · Log in