Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
President of the Bank for International Settlements: The application of tokenization in CBDC will help the development of the current financial system

President of the Bank for International Settlements: The application of tokenization in CBDC will help the development of the current financial system

CointimeCointime2023/11/25 14:12
By:Cointime

At the CBDC and Future Currency System Seminar held in Seoul, Agustín Carstens, the head of the Bank for International Settlements (BIS), mentioned the importance of tokenization as a key technology for building an interconnected financial system using CBDC. Carstens explained how tokenization will modernize the current isolated financial system: "Tokenization is a method of recording currency and assets in digital form on a programmable ledger. In fact, this means that users can transfer assets directly through programming commands, rather than through intermediaries such as customer managers who act on behalf of users." For Carstens, the tokenization of currency and other assets and their integration on a "unified ledger" will help develop the current financial system, allowing for the implementation of a two-tiered monetary system consisting of wholesale tokenized CBDC and tokenized deposits in several countries. (Bitcoin.com)

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Genius Group Ordered to Sell Bitcoin Holdings

Genius Group must sell 10 BTC due to a court order, slashing its crypto treasury and market cap significantly.Unexpected Setback for Genius GroupMarket Cap Falls Below Bitcoin ReservesConcerns About Stability and Transparency

Coinomedia2025/04/04 14:11
Genius Group Ordered to Sell Bitcoin Holdings

Ethereum Price Sees 4 Straight Red Months

Ethereum has closed four red months in a row, but long-term holders remain hopeful for a rebound.Ethereum’s Tough Streak ContinuesHope on the Horizon for Ethereum Holders

Coinomedia2025/04/04 14:11
Ethereum Price Sees 4 Straight Red Months

Nexchain Emerges as April’s Best ICO: A New Era for Blockchain

Nexchain is committed to facilitating interoperability from one blockchain to the next through artificial intelligence, allowing for cross-chain communication and operational efficienciesConclusion

Coinomedia2025/04/04 14:11
Nexchain Emerges as April’s Best ICO: A New Era for Blockchain