Digital currencies of central banks: the future of financial resilience
The digital currencies of central banks (CBDC, for its acronym in English) they are profiled as one of the innovations more disruptive in the global financial system. From the yuan digital in China until the project of euro digitalgovernments are exploring how these coins can guarantee resilience, inclusion and safety in the digital economy.
In this article, we look at what are the CBDC, what are its benefits, risks, and what implications they have for the safety and security in digital payments.
1. What are the digital currencies of central banks?
A CBDC is the digital version of the official currency of a countryissued directly by their central bank. Unlike criptomonedas, is supported by the State and maintains a stable value.
Example: a weight digital issued by the Bank of the Republic of Colombia would have the same value for a ticket, but would circulate in electronic form.
2. Key benefits of CBDC
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Financial resilience: allow you to keep your transactions even when there is a crisis or failures in private systems.
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Payments immediate: transfers in real-time without costly middlemen.
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Inclusion: access to populations not bancarizadas.
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Transparency: records auditable to reduce the risk of fraud and money laundering.
3. Risks and challenges
Implement a CBDC is not without challenges:
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Cybersecurity: the central bank becomes a critical target for attackers.
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Privacy: the balance between traceability and protection of personal data is a delicate one.
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Adoption of technology: the payments infrastructure and businesses must adapt.
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Impact on the commercial banking: could alter models of uptake and credit.
4. What does it mean for Latin america?
In the region, several countries are exploring CBDC:
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Brazil test the digital real.
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Mexico plans to release the weight digital.
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Colombia advances in studies for a digital currency official.
The key will be to design digital currencies that:
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Comply with international safety standards.
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Integrated controls equivalent to PCI DSS in the protection of data of users.
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Are aligned with the regulation of payments, and fintechs.
The CBDC is not just a trend, but the future of the resilience of the global financial. For central banks, they represent a new chapter in confidence in the currency; for users, an opportunity to access payments more safe and inclusive.
In IQ Information Quality we help organizations to anticipate the challenges of innovation in digital payments.
👉 Contact us and let's explore together the financial future of Latin america.
