{"id":5992,"date":"2023-06-27T11:38:41","date_gmt":"2023-06-27T15:38:41","guid":{"rendered":"https:\/\/sikaoer.com\/swiss-central-bank-to-launch-real-world-cbdc-pilot\/"},"modified":"2023-06-27T11:38:41","modified_gmt":"2023-06-27T15:38:41","slug":"swiss-central-bank-to-launch-real-world-cbdc-pilot","status":"publish","type":"post","link":"https:\/\/sikaoer.com\/swiss-central-bank-to-launch-real-world-cbdc-pilot\/","title":{"rendered":"Swiss Central Bank to Launch Real-World CBDC Pilot"},"content":{"rendered":"
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The chairman of Swiss Central Bank,Thomas Jordan, has announced that the central bank is launching a wholesale CBDC on Switzerland's SIX digital exchange as part of a pilot.\u00a0<\/p>\n
In a conference at Zurich on Monday, the Swiss central bank chair said that the project would begin soon, Reuters reported.\u00a0<\/p>\n
The wholesale CBDC pilot will run on the Swiss SIX digital exchange for a limited time, the bank chair said.\u00a0<\/p>\n
The Swiss Central Bank has continued to remain skeptical of the idea of a retail central bank-backed digital currency. Swiss bank chair Jordan expressed his concern about potential risks retail CBDCs could have for the financial system.\u00a0<\/p>\n
He added that the use of retail CBDCs was more difficult to control.\u00a0<\/p>\n
\n“We do not exclude that we will never introduce retail [CBDCs] but nevertheless we are a little bit prudent at the moment.”<\/p>\n<\/blockquote>\n
Speaking on a separate panel at the Zero Point Forum,the central bank's governor Andrea Maechler said that despite exploring CBDCs, the SNB does not see cash disappearing in Switzerland.\u00a0<\/p>\n
Andrea said that it is the one way that retail households can hold central bank money. “That feature needs to be maintained irrespective of the technology,” she added.\u00a0<\/p>\n
Several Central Banks Crossing The Finishing Line on CBDC<\/h2>\n
Earlier this month, the Managing Director of International Monetary Fund (IMF) Kristalina Georgieva said that at least 10 central banks are \u201calready crossing the finish line\u201d on issuing a central bank digital currency.\u00a0<\/p>\n
However, there is \u201ca lot that is still not decided\u201d when it comes to organizing and regulating CBDCs, she added.\u00a0<\/p>\n
The IMF also revealed earlier that it is working on a worldwide infrastructure for CBDCs in order to allow for interoperability of the digital currencies and increase their utilization.<\/p>\n
Currently, over 100 central banks around the world are exploring their own CBDC.<\/p>\n
All countries in the G7 economies have now shifted from the research phase of a CBDC to the development stage, signaling concrete pilot projects.\u00a0 \u00a0<\/strong>\u00a0<\/p>\n<\/p><\/div>\n