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Dutch Central Bank Aspires to Lay Foundations for a European CBDC
Summary: The Dutch central bank DNB (De Nederlandsche Bank) announced on Tuesday, April 21, its prospect of experimenting with a digital currency issued by itself and other European central banks so that people can pay directly through their accounts at the central bank.
The Dutch central bank DNB (De Nederlandsche Bank) announced on Tuesday, April 21, its prospect of experimenting with a digital currency issued by itself and other European central banks so that people can pay directly through their accounts at the central bank, according to Reuters.
As the coronavirus can stay on the surface of paper and plastic for days to spread the disease, fewer and fewer people are using cash or credit card but turning to mobile payment apps and digital money of commercial banks.
“Companies and citizens pay less with money issued by the central bank,” said DNB, “this raises the question whether the central bank should issue a form of money that better fits their needs.” The central bank wants to avoid over-reliance on private money, including Facebook’s Libra, which recently introduced in its new whitepaper four new single currency stablecoins.
By Dawn Wu
Tags: CBDC,Central Bank,Dutch
Link: Dutch Central Bank Aspires to Lay Foundations for a European CBDC [Copy]
