CBDC Could Combat Market Dominance From BigTech: ECB

CBDC Could Combat Market Dominance From BigTech: ECB

Https://cb.run/aNT7 CBDC Could Combat Market Dominance From BigTech: ECBThe European Central Bank unveiled a discussion paper this week on the pros, cons, and economics of implementing central bank digital currency (CBDC).

It suggested that CBDCs could help stave off dominance from BigTech firms in the payments market due to “network externalities” surrounding the use of a medium of exchange.

Ultimately, the paper posits that CBDC may be “the only solution to guarantee a smooth continuation of the current monetary system.” The Threat of Digital Platforms The discussion paper begins by noting the growing interest in CBDCs, which are now being explored by central banks worldwide.

They’ve so far...