BIS (Bank of International Settlements General Manager says Central Banks will have ABSOLUTE Control
2020-10-19
BIS (Bank of International Settlements) General Manager Agustín Guillermo Carstens said: "...our manifest on the use of CBDC (Central Bank Digital Currency) in particular for the use of general, to the general use; we tend to establish equivalence with cash and there is a huge difference there. For example in cash we don't know, for example, whose using a 100 dollar bill today. We don't know who is using a 1000 peso bill today. A key difference with the CBDC is the central bank will have absolute control under rules and regulations that will determine that use of that expression of central bank liability and also, we will have the technology to enforce that. Those two issues are extremely important and that makes a huge difference with respect to what cash is."