3 Global Central Banks Propose Digital Currencies to Ease Cross Border Transactions16.83

In a November 2018 report by the Bank of Canada, Bank of England and the Monetary Authority of Singapore, emerging technologies and opportunities in the banking industry have been explored including the use of Wholesale Central Bank Digital Currencies. The report has been compiled and collated by KPMG and also includes inputs from commercial banks such as HSBC, TD Bank, OCBC Bank and UOB.

The report goes on to list the following challenges Global Central Banks are facing particularly with the popular RTGS (Real Time Gross Settlement) system:

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