The director of research department of the company R3 Anthony Lewis predicts that the digital currency of central banks will get mass distribution as early as 2018. With this statement, the top manager spoke during the Deconomy conference in South Korea.
“The digital currency of national banks will be widely used this year. We talked with many central banks, and almost everywhere we were told that the only effective solution for dealing with existing problems with the payment system could be only blocking,” the analyst said.
The status of the national digital currency may vary depending on the state policy and legislative framework in a particular country. It is necessary to distinguish between the “mass” use of the state crypto currency and the variant of commercial application of technology that is intended for the general public.
Other participants in the discussion supported Mr. Lewis only in his optimism about the mass version. According to Stanley Yong, IBM’s crypto currency expert and former analyst of the central bank of Singapore, issuing a “trade” national crypto currency, designed for millions and billions of citizens, can significantly increase market and credit risks for the economy.