In a recent interview with the Financial times, Agustin Carstens, chief of the Bank for International Settlements (BIS), known as a strong opponent of crypto, has admitted that central banks will soon have a need to create their own digital currency.
Central banks are working on their own Crypto
BIS works as the main bank for the world’s central banks. It is therefore important for the blockchain and crypto industry that his boss admits that a need for digital assets created by these institutions should rise.
He stated that several central banks are already making their own crypto and BIS too – “we are working on it and supporting them”.
If there is a clear demand from customers to use such digital coins, such as JP Morgan & JPM coin, Carstens said, banks will have to issue them.
“(It may be that it is faster than we think there is a market and that we should be able to offer digital central bank central banks.”
Banks are stirring after Facebook ‘s announcement of Libra
The announcement has already confronted the company with various obstacles from legislators and bankers in the US and Europe, because Libra, as many people think, can become a real threat to banks around the world.
In a recent report, BIS, writes Coindesk, shared his concern that Libra can cause major problems for global banks to control money flows around the world.
Bankers who are not satisfied with Libra that is about to launch fear losing control of money, but ironically, what they are accusing of launching Libra is a questionable use of customer data.