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My first thought after hearing about a Central Bank Digital Currency being introduced in Jamaica was, this will disrupt commercial banks. I’ve since realized the implications are more significant than that.
As these countries get disrupted by decentralized currencies, their CBDCs will surrender value to bitcoin and ethereum.
But what if the software became the bank? They would still be accountable to the government whose currency is being served.
With Fiat currency we are accustomed to hedging the devaluation of our dollar to the USD by purchasing USD. USD has nice infrastructure and mobility around it.
Came across this opportunity @amberconnectja @listenminow @BCJamaica
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