{"id":45043,"date":"2021-06-27T14:11:39","date_gmt":"2021-06-27T11:11:39","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=45043"},"modified":"2025-08-31T19:49:11","modified_gmt":"2025-08-31T16:49:11","slug":"swiss-national-bank-no-need-for-a-digital-franc","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/swiss-national-bank-no-need-for-a-digital-franc\/","title":{"rendered":"Swiss National Bank: No Need for a Digital Franc"},"content":{"rendered":"<p>The Swiss National Bank (SNB) does not plan to issue a digital franc, although it is conducting research into CBDC (<span data-descr=\"central bank digital currency\" class=\"old_tooltip\">CBDC<\/span>). This was stated by the institution&#8217;s chief economist, Carlos Lenz, according to <a href=\"https:\/\/www.handelszeitung.ch\/unternehmen\/nationalbank-blockchain-ist-ungeeignet-fur-digitales-zentralbankengeld\" target=\"_blank\" rel=\"noreferrer noopener\">Handelszeitung<\/a>.<\/p>\n<p>During a press conference organized by the Swiss Bankers Association (SBA), Lenz noted that the existing payment system works well and, accordingly, there is no need for a digital currency.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAll the research and pilots that the SNB is currently <a href=\"https:\/\/forklog.com\/en\/news\/bis-joins-cbdc-testing-in-cross-border-settlements\">conducting<\/a> with the Bank for International Settlements and the Banque de France relate to digital currencies for large clients, such as banks. But the issue is not product-level implementation. At present, there are no plans to deploy CBDC. This also applies to wholesale payments,\u201d said a central-bank spokesperson.<\/p>\n<\/blockquote>\n<p>According to him, there is no <a href=\"https:\/\/forklog.com\/en\/news\/ecb-flags-risks-for-central-banks-without-their-own-cbdcs\">risk of the franc being displaced<\/a> by other currencies if Switzerland stays out of the development of digital money. Lenz reminded that similar discussions occurred when the euro was introduced:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThere were also concerns that payments would suddenly be made in euros. But that did not happen.\u201d<\/p>\n<\/blockquote>\n<p>Discussing possible technological foundations for the digital franc, the economist said that theoretically there are many. One of them is distributed ledger technology.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cHowever, blockchain is very inefficient. I do not think a decentralised solution is ideal,\u201d concluded Lenz.<\/p>\n<\/blockquote>\n<p>Earlier, the Swiss government found no advantages in issuing a retail CBDC, but recognised some benefit from its wholesale variant. The SNB shared this position.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Swiss National Bank (SNB) does not plan to issue a digital franc, although it is conducting research into CBDC. This was stated by the institution&#8217;s chief economist, Carlos Lenz, according to Handelszeitung.<\/p>\n","protected":false},"author":1,"featured_media":45044,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,468],"class_list":["post-45043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-switzerland"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/45043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=45043"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/45043\/revisions"}],"predecessor-version":[{"id":45045,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/45043\/revisions\/45045"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/45044"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=45043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=45043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=45043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}