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14 August 2020

IMF Senior Official Says Private Corporations Can Bolster Digital Currencies

IMF Senior Official Says Private Corporations Can Bolster Digital Currencies

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Terming it a“synthetic” CBDC, Griffoli states a private payment provider, such as eMoney, can store client funds in a central bank account while receiving custodial benefits.

In contrast, says Griffoli, central bank products can be slow and deter innovation, while presenting “very costly” and “very risky” challenges for the latter. .

His views are echoed by Tobias Adrian, the IMF’s director of the Monetary and Capital Markets Department, who said in May 2019 anotable advantageof a private-public CBDC meant central banks provide value only in their area of expertise; regulatory oversight and settlement.

The lines between private and public control will be well-defined to avoid a potential conflict of interest, says Griffoli, adding “would a central bank ensure private entities undertake proper due diligence on clients, and would they provide input on what the tech design of the token itself would look like?”

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Litecoin (LTC) Price Analysis: Facing Key Hurdles Near $45
published: 2 months ago
Litecoin price is showing signs of an upside correction against the US Dollar, similar to bitcoin. LTC price must clear the $45.00 hurdle to start a sustained upward move in the near term.

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