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Former JP Morgan Chase Executive: CBDC Will Have An Impact On Commercial Banks And The Financial System As A Whole

Amy Liu

Summary: Former JPMorgan executive Daniel Masters said in an interview with Forbes that there is an interesting dynamic playing out in the world of CBDCs. The Chinese digital currency is going to be formidable, and the U.S. is going to be forced to react. It could be in the form of a digital dollar or trade ...

Former JPMorgan executive Daniel Masters said in an interview with Forbes that there is an interesting dynamic playing out in the world of CBDCs. The Chinese digital currency is going to be formidable, and the U.S. is going to be forced to react. It could be in the form of a digital dollar or trade war. 

He thinks we are going into a new paradigm where central banks issue CBDCs, commercial banks cease to exist and the service layer is filled by crazy new emerging companies like Compound Finance, Uniswap, SushiSwap, and people that are really getting decentralized finance done today.

By Amy Liu

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