Will Mint Street's digital currency ambition break the banking system?
Synopsis
Central banks now understand the huge impact the blockchain and distributed technology is creating in the financial system which solves the complexity of import-export settlement in reducing risks, less dependent on intermediaries for domestic transactions and US Federal System for international transactions, cutting down remittance charge to even zero.
Whether RBI’s CBDC will bear interest depends on how the country’s central bank takes an approach on its scope, underlying technology, and validation mechanism. The central banks now understand the huge impact the blockchain and distributed technology is creating in the financial system which solves the complexity of import-export settlement in reducing risks, less dependent on intermediaries for domestic transactions and US Federal System for
