With the declining value of money because of the war in Venezuela and the increase in inflation, the people are fighting the hunger, will crypto money be able to solve the financial crisis?
Desperately needed humanitarian aid for Venezuelans was blocked on Saturday at the border between Venezuela and Columbia. The blocking dictator is President Nicolás Maduro. According to Maduro, who proclaimed himself president, temporary president Juan Guaidó is pressing for help in providing assistance to the country.
Maduro wasn't even supposed to be president. At least two people die this weekend reported. Civilians are fighting Maduro's ordered Venezuelan troops to prevent aid from crossing the border.
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People are being asked questions about how digital currencies can help avoid the disasters the Venezuelans face.
Digital currencies issued by central banks are controversial because risks mitigate most of the benefits.
Nabilou's report drew attention to the benefits of CBDCs. These currencies may prevent chaos:
- Price stability
- Correct operation of payment systems
- Better monetary policies with less restriction
- The CBDC's decision to make a decision should be made by taking into account a number of broader policy objectives, including economic and legal considerations, such as technological neutrality, and freedom of choice for users' means of payment.
Why do Central Banks Accept Crypto Money?
Nabilou said he had made almost two unsuccessful attempts to create CBDCs in Ecuador and Venezuela. In the report, Nabilou said there are numerous reasons why central banks are hesitant to launch digital currencies.
Among the reasons are the current constitutional restrictions for many jurisdictions. Creating a CBDC may violate government regulations.
Nabilou wrote:
Olabilir However, despite the potential positive impact on the execution of monetary policy, there may be some unwanted persons in the publication of the CBD. For example, it will cause banking to be interrupted because it will keep central banks in a position to allocate low financial resources. Örneğin
According to the survey
Nabilou is not the only one to raise the issue of CBDC. According to a survey commissioned by the Central Bank of the CCN, it was reported in recent days. While several reserve banks are investigating digital currencies, their work is mostly conceptual. As a result, only a handful have the intentions of exporting a CBDC in the near future:
Or The survey finds that a large number of situations are driving the National Bank to a growing number of CBDCs to do conceptual research. However, only a few central banks have solid intentions in a CBDC solution over the next decade. Ancak
Source: CCNA