Interest in Central Bank (CBDC) crypto assets is no longer undeniable. Every day, large countries in particular have made progress in the CBDC. Furthermore China is now in the process of testing the real economy more widely. The question that arises among the crypto community is, what about the United States?
U.S. lawmakers also took a similar stance and called for speeding up the expansion of the digital dollar. Even so, Federal Reserve Member Christopher Waller has shared a different view that is likely to surprise many.
Waller in one of the events organized by the American Enterprise Institute has denied the need for digital dollars. He personally rejected the idea of CBDC crypto assets being touted as an innovative payment gateway in the private sector.
According to Walter, the private sector has developed cheaper payment alternatives to compete with the banking system. Thus he sees no need for the Federal Reserve to develop the CBDC as an alternative payment.
A large number of commercial banks have used digital transactions, some of which bring liability to the bank. So there is no difference between the current transaction and what will be done using CBDC. For example, he thinks that CBDC is something that is being touted in the community.
“I think that private sector innovation can reduce the price increases charged by banks more effectively than CBDC,” Waller said. ”
While Waller’s comments are very different from some lawmakers, this raises questions among the crypto community.
On the other hand, the development of CBDC in China has prompted other countries to advance their CBDC systems.
