Opinion: “consumer” CBDC will appear in 10 years

Former Bank of France governor Christian Neuer believes that banks are in no hurry to issue national currencies andthat projects available to the general public will not appear soon.

Christian Neuer – economist, banker andblockchain technology advocate, expressed doubts that major central banks will issue centralized national digital currencies (CBDCs) to consumers within the next 10 years, but predicts that the banking system will begin to use digital payments "fairly soon." 

Neuer is confident that the idea of ​​issuing a stateCryptocurrencies have already attracted the attention of most central banks due to the reduction in the use of fiat money, the Facebook crypto project and the success of the Chinese Central Bank in issuing the digital yuan.

However, Neuer believes that there are still many doubts among large financial institutions, mainly due to the influence of cryptocurrencies on the domestic monetary policy of countries.

According to him, first of all, institutions willto develop a digital payment system for transfers between central and commercial banks. Later, the issue of digital currency for consumer purposes will follow.

He emphasized that the national digital currencyshould have the support of the central bank, as it will give users more confidence in the asset and allow it to be used without any problems on the part of regulatory authorities.