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UN Blockchain Expert: Digital Currencies Could Supersede Bank Accounts Soon

Dawn Wu

Summary: UN Global Expert in Blockchain, Massimo Buonomo, said digital currencies could replace banks and credit cards with equal convenience and higher interest rates, at an online panel on Thursday, according to CoinDesk.

UN Global Expert in Blockchain, Massimo Buonomo, said digital currencies could replace banks and credit cards of low interest rates with equal convenience, at an online panel on Thursday, according to CoinDesk.

At the panel discussion, Buonomo addressed that digital currencies, especially CBDCs, could “eliminate the need for a bank account” shortly. Buonomo believes central banks’ monetary strategy to attract more borrowing with low-interest rates may further accelerate the process.

By Dawn Wu

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