RATE Group | Central Bank Cryptocurrency Can Arrive Faster Than You Think: ING Chief
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Central Bank Cryptocurrency Can Arrive Faster Than You Think: ING Chief

14 Oct Central Bank Cryptocurrency Can Arrive Faster Than You Think: ING Chief

Posted at 14:31h in Cryptocurrency News by

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According to information from ING’s official website, Mark Cliffe, ING’s Chief Economist discussed the possibility of creating cryptocurrency by Central Banks, they may appear faster than everyone expects.

In addition to the ING’s Chief Economist, the discussion was attended by  ING’s Lead Economist for Digital Finance, Teunis Brosens, IMF Economist, Priscilla Toffano and Phil Middleton from the central bank thinktank, OMFIF. During the conversation, it was said that the first official Central Bank cryptocurrency can be created within 5 years.

Expert’s thoughts on CB Cryptocurrencies

Teunis Brosens expressed the following thoughts about the existing banking system and why its own cryptocurrency will be a clear win:

“The existing financial infrastructure is quite outdated. It’s expensive, it takes a lot of time, compliance is difficult and the central bank digital currency could be a new single technical infrastructure which is faster, cheaper, which makes is one go very…

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