Forex Market News Today
  • Home
  • News
  • LiveHourly
  • Markets
  • Stock
  • Business
  • Economy
  • World
  • Politics
  • Energy
  • exchange
  • companies
No Result
View All Result
Forex Market News Today
Home companies

Digital currency rollout is ‘inevitable’

3 months ago
in companies
3 min read
Digital currency rollout is ‘inevitable’
Share on FacebookShare on Twitter


Bill Winters, chief executive officer of Standard Chartered Plc, gestures while speaking during a Bloomberg Television interview in London, U.K., on Thursday, July 4, 2019.

Bloomberg | Bloomberg | Getty Images

SINGAPORE — The widespread creation and rollout of digital currencies is “absolutely inevitable” as the international payments system rapidly evolves, according to the CEO of Standard Chartered.

Speaking at the Singapore FinTech Festival, Bill Winters said there is scope for both state-backed electronic currencies and private ones, too.

“I think there is absolutely a role for central bank digital currencies as well as non-central bank-sponsored digital currencies,” the finance chief said Monday.

Standard Chartered is set to announce further news “along these lines” in the coming days, he added.

A push to digital

Already, governments across the globe have begun experimenting with digital currencies, which proponents argue allow for more seamless money transfers. China leads the charge in that regard, having started public trials of its digital yuan.

Meantime, private companies have been getting in on the act. Facebook-backed Libra — recently renamed as Diem — is among the names working on an alternative currency that could behave like the U.S. dollar.

However, Winters said the greatest opportunity for digital currencies could be in new, niche segments that don’t replicate existing fiat currencies.

“The really interesting development for me,” he continued, “is to have currencies that don’t match a currency in and of itself, but are intended to capture either a superset of a subset.”

Tailor-made currencies

Digital currencies could be created for specific types of projects, such as trading in the voluntary carbon market, for example, suggested Winters. That would provide users, who want to offset their carbon emissions, confidence that the financing behind their project is “verified, standardised, monitored,” he said.

“Those sorts of applications for a digital currency, and creating a digital currency ecosystem, is something that can’t be replicated by a fiat currency, or, most likely, by a central bank digital currency any time soon.”

Some kind of network stitched together, but with central bank digital currencies at the core, will become a reality.

“I think there is a whole new world that’s opening up for us,” he said.

Winters was speaking as part of a panel at the annual conference, which this year is being held virtually over the course of five days. He was joined by Piyush Gupta, chief executive officer of Singapore-based DBS Bank, and Calvin Choi, chairman and chief executive officer of AMTD Group, who both agreed that the rollout of digital currencies will likely require a collaborative effort from public and private bodies.

“You will find over the next few years that some kind of network stitched together, but with central bank digital currencies at the core, will become a reality,” said Gupta.



Go to the news source:
Digital currency rollout is ‘inevitable’

Tags: business newsCentral bankingCurrencydigitalEconomyFinTechinevitablerolloutStandard Chartered PLCTechnologyWorld economy
Previous Post

sensex today: Stock Markets Live: Sensex gains 200 points, Nifty tests 13,300; P…

Next Post

Natural Gas Prices May Fall Further on Warmer Weather, Technical Outlook

Related Posts

Rocket Companies: 4Q Earnings Snapshot
companies

Rocket Companies: 4Q Earnings Snapshot

by Forex News
February 26, 2021
0

Updated 7:07 pm EST, Thursday, February 25, 2021 DETROIT (AP) _ Rocket Companies, Inc. (RKT) on Thursday reported fourth-quarter profit...

Read more
Facebook bans Myanmar military – The Washington Post
companies

Facebook bans Myanmar military – The Washington Post

by Forex News
February 25, 2021
0

Military personnel had used Facebook extensively to push propaganda against the Rohingya minority group amid a genocidal campaign beginning...

Read more
Bausch Health Companies Inc. Announces Fourth-Quarter And Full-Year 2020 Results…
companies

Bausch Health Companies Inc. Announces Fourth-Quarter And Full-Year 2020 Results…

by Forex News
February 24, 2021
0

LAVAL, Quebec, Feb. 24, 2021 /PRNewswire/ -- Fourth-Quarter 2020 Financial Results Revenues of $2.213 Billion GAAP Cash Generated from...

Read more
Privacy Company Sentinel Promotes Aaron Weller to President | News
companies

Privacy Company Sentinel Promotes Aaron Weller to President | News

by Forex News
February 23, 2021
0

BELLEVUE, Wash., Feb. 23, 2021 /PRNewswire-PRWeb/ -- Sentinel today announced Aaron Weller has been promoted from Vice President of Strategy...

Read more
Covid-19 Global News: Live Updates on Variants, Cases and Deaths
companies

Covid-19 Global News: Live Updates on Variants, Cases and Deaths

by Forex News
February 23, 2021
0

Here’s what you need to know:The Biden inauguration’s memorial for the 400,000 lives lost to the coronavirus in the...

Read more
Snowy weather is a boon for plowing, car wash businesses
companies

Snowy weather is a boon for plowing, car wash businesses

by Forex News
February 22, 2021
0

Expresso Car Wash in Maumee and Holcomb Enterprises plow company in Port Clinton have seen their businesses benefit from...

Read more
Coronavirus vaccine: Did Pfizer put profit first? | World| Breaking news and per…
companies

Coronavirus vaccine: Did Pfizer put profit first? | World| Breaking news and per…

by Forex News
February 21, 2021
0

Last year, Albert Bourla had a choice and he decided to take a massive risk. The CEO of the...

Read more
2 Burke companies receive grants for expansions | Latest Headlines
companies

2 Burke companies receive grants for expansions | Latest Headlines

by Forex News
February 20, 2021
0

“This is a great project and we’re excited to announce it,” said Jeff Brittain, chairman of the Burke County...

Read more
Bank rep gives advice to struggling small businesses amid pandemic
companies

Bank rep gives advice to struggling small businesses amid pandemic

by Forex News
February 20, 2021
0

Businesses are feeling the impact of the pandemic, but there is help. According to the Federal Reserve Bank, 3...

Read more
Texas prices for lodging, necessities skyrocket amid storm | Business News
companies

Texas prices for lodging, necessities skyrocket amid storm | Business News

by Forex News
February 19, 2021
0

Such price spikes are illegal under Texas law, which prohibits selling fuel, food, medicine, lodging, building materials or other...

Read more
Next Post
Natural Gas Prices May Fall Further on Warmer Weather, Technical Outlook

Natural Gas Prices May Fall Further on Warmer Weather, Technical Outlook

Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Latest Forex News

North Korean hackers stole Covid-19 data from Pfizer, South Korean lawmaker says

North Korean hackers stole Covid-19 data from Pfizer, South Korean lawmaker says

1 week ago
Saudi Arabia And Russia Are Headed For Another Clash On OPEC+ Oil Cuts

Saudi Arabia And Russia Are Headed For Another Clash On OPEC+ Oil Cuts

4 days ago
Economist Slams ECB Chief Lagarde’s Bitcoin Remarks as Dangerous for Cryptocurre…

Economist Slams ECB Chief Lagarde’s Bitcoin Remarks as Dangerous for Cryptocurre…

1 month ago
Live Foreign Currency Exchange Rates

Covid is forcing economists to look at other disciplines for recovery clues | Ec…

2 weeks ago

Today Market News

Indices log biggest 1-day fall in 9 mths; Sensex sinks 1,939 pts, holds 49K
Live

Indices log biggest 1-day fall in 9 mths; Sensex sinks 1,939 pts, holds 49K

February 26, 2021
China has a good chance of doubling GDP by 2035, says Bank of America
Economy

China has a good chance of doubling GDP by 2035, says Bank of America

February 26, 2021
Sensex Crash Today: Stock Market LIVE Updates: Sensex tanks over 1,400 pts amid …
Live

Sensex Crash Today: Stock Market LIVE Updates: Sensex tanks over 1,400 pts amid …

February 26, 2021
Boeing will pay $6.6 million to FAA | Aviation | Business and Economy | Latest W…
Economy

Boeing will pay $6.6 million to FAA | Aviation | Business and Economy | Latest W…

February 26, 2021
Brazil death toll tops 250,000, virus still running rampant
World

Brazil death toll tops 250,000, virus still running rampant

February 26, 2021
Sensex drops 1,500 points, Nifty at 14,650; HDFC twins, SBI, IndusInd Bank top l…
Live

Sensex drops 1,500 points, Nifty at 14,650; HDFC twins, SBI, IndusInd Bank top l…

February 26, 2021
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA

© 2020 Siteofforex.com

No Result
View All Result
  • Home
  • News
  • Live
  • Markets
  • Stock
  • Business
  • Economy
  • World
  • Politics
  • Energy
  • exchange
  • companies

© 2020 Siteofforex.com

wpDiscuz