• Sun. Aug 14th, 2022

Atlantic Council Director Lipsky: “​105 countries are working on digital currency​.”​

ByHazel R. Lang

Jul 15, 2022

Bloomberg HT Correspondent Ali Cinar interviewed Atlantic Council Senior Director Josh Lipsky about the CBDC Tracker report.

WASHINGTON, DC, USA, July 15, 2022 /EINPresswire.com/ — Atlantic Council Senior Director Lipsky said 105 countries, representing over 95% of global GDP, are exploring digital currencies. Many European central banks, including the Central Bank of the Republic of Turkey (CBRT), are in the research phase. Josh Lipsky also shared his analysis of the global future of digital currencies and central bank actions.

Lipsky noted that the Atlantic Council Center for Geoeconomics launched the Central Bank’s digital currency project two years ago. Countries representing more than 95% of the world’s GDP are now exploring it. Lipsky said all G-20 countries except Argentina have digital currency projects in the pilot or development stage.

Lipsky pointed out that ten countries have launched their digital currency projects and that China intends to expand its pilot project in 2023. Director Lipsky noted that many countries are exploring alternative international payment systems and pointed out that among the G-7 economies, the United States and the United Kingdom are the countries furthest behind in the development of CDBC. “An international standard must solve this problem, but no global coordination has yet been ensured,” he added.

“CBRT is developing a digital currency.”

Director Lipsky further noted that many European central banks, including the CBRT, are in the research phase and other countries are moving faster than the US and UK. Lipsky said that the question of whether or not the United States will release digital dollars is frequently raised, and recalled that Lael Brainard, Vice Chairman of the Federal Reserve, emphasizes the issue of digital currency.

Lipsky added that the Central Bank of Russia also has a digital currency pilot project, and China is one of the countries with the biggest projects. Lipsky stressed that regulations are key: “Countries that achieve cheaper and more reliable technology will be the most beneficial.”

He said the headlines are misleading about bitcoin mining in New York, and no aspect of bitcoin mining has been banned, but there is a concern about power consumption. At New York.

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