Do you support the pilot for digital currency by MAS?
Singapore's central bank, MAS, plans to launch a pilot for wholesale central bank digital currencies (CBDCs) in 2024, enabling real-time payments among commercial banks.
In 2024, MAS will trial digital money between banks for big transactions.
Banks will experiment with making different digital monies work together.
Companies like $Grab Holdings(GRAB)$ , Alipay, Fazz, Amazon, and $HSBC Holdings PLC(HSBC)$ will test the use of digital money for payments and financing.
How do you view the pilot of digital currency platform?
Do you expect the trial of digital currencies?
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Do you support the trial operation in digital cash?(Single choice)Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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If the pilot program in launching digital currency is successful, then digital currency could possibly be available to the general public later on.
This is an exciting time as investors are also eagerly waiting for the US SEC approval for Spot Bitcoin ETF next year.
Companies like Grab will also benefit in the future. Perhaps when we take a taxi ride, we can use Digital currency to pay for the fare in the future.
What an amazing idea!
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can, can, everything also can, later like banks services all go down, see how your digital currencies pay for the goods and services hor. [Chuckle]
Singapore, striving to be a financial hub, has no choice but to run the experiment. China has started its digital platform some time ago. This can’t be ignored. Existing cryptocurrency movements are too volatile and not suitable. I am sure any stable country ruler would instead use their own form of digital currency.
Looking forward to it!
<br>Singapore, striving to be a financial hub, has no choice but to run the experiment. China has started its digital platform some time ago. This can’t be ignored. .
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Digital currency has an added benefit, when entered into cooperation with partner countries for trade, can bypass financial messaging, in effect nudify to some extent the threat of sanctions from certain actors in the world who would not hesitate to exercise economic tools in their power to pressure the state into unfavourable outcomes.
The digital currency has to be stable in order for it to work - it is important to take the time to have a comprehensive trial and regulations to iron out potential loopholes
.life saving may even disappear and not be recovered for retirement use! ... unless, approval and guaranteed by government?
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