By Stefan J. Bos, Chief International Correspondent Worthy News
GENEVA (Worthy News) – The World Economic Forum (WEF) suggests that nearly all central banks plan to have their digital currencies as part of global efforts to remove cash transactions from the world economy.
“Over 98 percent of the global economy’s central banks are researching, piloting or deploying central bank digital currency (CBDC),” added the WEF in a report seen by Worthy News.
“There is an opportunity to harness this innovation in central bank money to enhance systemically important payments and securities transactions between financial institutions,” the WEF stressed.
The report, ‘Modernizing Financial Markets With Wholesale Central Bank Digital Currency,’ called CBDCs “ideal for systemically important transactions despite the emergence of alternative payment instruments.”
Additionally, “Wholesale central bank digital currency (wCBDC) is a form of [Central Bank Money also known as] CeBM that could unlock new economic models and integration points that are not possible today,” the report stressed.
“Wholesale CBDCs” would be used mainly by banking institutions, governments, and global corporations, while “Retail CBDCs” would be for the regular population, according to experts.
The WEF urged policymakers and other leaders to investigate the possibilities of digital systems in its report co-authored with Accenture, a global professional services firm.
Yet not everyone shares its enthusiasm. “Every person that cares about economic freedom should be wary of CBDCs as perhaps the biggest threat to human liberty since the attempted introduction of vaccine passports,” said ZeroHedge, an opinionated financial news site.
“After the pandemic agenda was defeated and the plan to exploit public fear to create a perpetual medical autocracy was exposed, [WEF founder] Klaus Schwab and his merry band of globalists slithered back into the woodwork,” ZeroHedge added.
“To be sure, we’ll be seeing them again one day,” the site commented, referring to the report.
Copyright 1999-2024 Worthy News. This article was originally published on Worthy News and was reproduced with permission.
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