will be intended for interbank, wholesale use; a public, retail version will not be included in the present pilot."We do not exclude that we will never introduce retail CBDCs but nevertheless we are a little bit prudent at the moment," he said.
Central banks worldwide are exploring the creation of digital versions of their currencies in response to the decrease in cash usage, accelerated in some instances by the COVID-19 pandemic. China leads in the development of CBDCs, with countries like Japan, Brazil, and Australia following suit.
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Economist Jim Rickards Warns of a CBDC-Supported Social Credit System in the US: 'It Can Happen Here' – Bitcoin NewsRickards stated that a CBDC would facilitate 'the creation of a social credit system that allows governments to punish those who engage in unapproved activity.'
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