The only mechanism contributing to the normal operation of the financial market in times of crisis is digital currency the Central banks (CBDC). In an interview with CNBC, said the technical Director of IBM Blockchain Stanley Yung.
According to experts, during the 2008 crisis is precisely the lack of confidence in the mechanisms of “delivery versus payment” that existed at that time, led to a halt of the system of regulation of financial flows.
“Union banking solutions for the digital money transfer systems, mechanisms for the supply of all types of commodities, derivatives and shares on the blockchain to prevent risks, such as those that we saw in 2008,” says Stanley Yung.
Jung also considers that CDBC will help to reduce the “fragmentation of the financial market”, through the dissemination of a wide range of solutions for digital payments.
We will remind, earlier in November the head of the International monetary Fund Christine Lagarde also urged Central banks to consider issuing digital currency, as they, in her opinion, will help to make the transaction more secure.