Future finance will come from a partnership of both the public and private sectors.

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Chris Giancarlo, former leader of the commodity trading authority and US future contracts, said that both the public and private sectors should work together closely. To make money in the future the former CFTC chairman is also considered one of the pioneers of projects leading Blockchain technology. He was the basis for creating a currency like "Digital dollar" and he attended the Singapore Fintech Festival 2020 to discuss the future of stablecoins and central bank digital currencies, or CBDCs. In a discussion on Tuesday under the topic “Will CBDCs Inject Stablecoin Reforms?” Giancarlo announced that the future of the currency depends on the close cooperation of the government with the private sector. In response to Iliana Oris Valiente's questions about coexistence effectively in the future rise of CBDCs and stablecoins, Giancarlo pointed out that money is both a social and governmental structure: “When it comes to money, it's not, and it's never the only government structure. But money seems more like a social structure and probably not surprising to everyone here. Where there are alot of surveys about digital finance And it's possible to have more in the private sector than that would happen in the government sector " The former CFTC chairman continued: In the end, the cooperation of both the government and the private sector Regarding cryptocurrency, it is a good practice. “What really needs to be done is that the public and private sectors should work together more closely. They cannot work separately. They need more crossover to work. ” Giancarlo compares the future of financial development. With space exploration And internet development Emphasizing the US Department of Defense's active collaboration with the private sector to tackle these issues, Giancarlo said. “The future of finance is determined by the government. And the private sector working together " Earlier this year, Tommaso Mancini-Griffoli. Which is represented by the International Monetary Fund, there are still arguments that exist. Separate public-private partnerships may be the best solution for a CBDC. However, not everyone agrees. In June, Federal Reserve President Jerome Powell He said he was not interested in the involvement of the private sector in the development of the digital dollar. “The private sector is not involved in the creation of money supply,” but the official eventually reversed his attitude. Claiming that last October The Federal Reserve opened up to cooperate with the private sector in October.

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