Hongkong könnte sein CBDC im Jahr 2021 vorstellen
Cryptocurrencies are becoming more and more interesting assets, even in the eyes of such big players as the world's central banks. In this regard, many of them are trying to create their own digital currencies - CBDC. One of these is being developed by the Hong Kong Monetary Authority. The agency does not deny the possibility of launching its own digital currency this year.
According to Howard Lee, deputy executive director of the Hong Kong Monetary Authority, management is actively exploring the potential benefits of CBDC use in the region and possible pitfalls.
The token is planned to be made available not only to organisations, but also to individuals. To this end, the agency is considering two models: the hybrid CBDC and the private stablecoins supported by THECC.
A final decision on the token has not yet been made. According to Li, the agency is trying to take into account all factors - from the interests of consumers to technological and political moments in the implementation of the project. Not forgetting, of course, the risks
As a result, the organisation is waiting for a whole heap of compromises in making a decision that suits everyone. At the same time, they are working in partnership with the People's Bank of China on the technical testing of e-CNY, created for international retail payments in Hong Kong.
Li does not deny concern about the volatility of cryptocurrencies and the fact that their popularity may well undermine the economic sovereignty of some world states. Digital currencies, according to his version, may hurt traditional currencies. As a result, and the credit operations of central banks.
On the other hand, Howard Lee is convinced that Hong Kong's CBDC will be able to promote competition and innovation in the region's financial sector and facilitate the simplification of cross-border payments.