The Bank for International Settlements (BIS) Innovation Hub has initiated a project focusing on developing private Central Bank Digital Currencies (CBDCs). The project aims to explore the potential benefits and implications of more direct integration of individuals in a CBDC system. This effort is geared towards understanding the potential for digital currencies to revolutionize payment systems, financial stability, and monetary policy. BIS’s initiative could potentially pave the way for a new era in the global financial system, with digital currencies taking center stage.
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