IMF poll participants criticise CBDCs
Most participants in an IMF poll declined to regard central bank digital currencies as money.
Are central bank digital currencies really money? #poll
— IMF (@IMFNews) January 17, 2021
At the time of writing, the study involved 35,126 Twitter users. When asked whether CBDCs are money, 64.5% of respondents answered negatively.
What and why central banks are creating digital currencies (CBDC)
In the comments under the poll, the host of a popular Bitcoin podcast, Peter McCormack, said that central bank digital currencies are “debt instruments controlled by slaveowners”.
No, they are IOUs controlled by slavemasters.
Eat shit!— Peter McCormack (@PeterMcCormack) January 17, 2021
Bitcoin evangelist at Kraken Pierre Rochard called CBDC a scam.
No, they are just scams.
— pierre rochard (@pierre_rochard) January 17, 2021
The IMF noted that some countries may be hindered from issuing CBDCs by their own regulations. According to the regulator, 23% of central banks permit the issuance of banknotes and coins, including digital assets, while 61% are limited to cash.
It might be digital, but will it really be currency? While central banks examine the case for developing a digital currency, many might not be allowed to do so by their own by-laws. More in the new IMF staff research. #IMFBlog #fintech https://t.co/AY3kaXkCq4 pic.twitter.com/0vC4XDfDR5
— IMF (@IMFNews) January 17, 2021
A different view on CBDCs is held by analysts at MetLife Investment Management. In their view, central bank digital currencies are instruments with significant potential.
MIM GEMS the Blockchain Blockbuster Yapese Stones to Central Bank Digital Currencies by ForkLog on Scribd
Earlier Macquarie analysts claimed that central bank digital currencies will lose to Bitcoin and other cryptocurrencies if the latter become a means of payment in e-commerce.
Earlier, former Canadian Prime Minister Stephen Harper noted the inevitability of CBDCs as a monetary policy tool worldwide.
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