How can Swift CBDC contribute to the decentralization of the financial system?

3 answers

• Nov 25, 2021 · 3 years ago
  The implementation of Swift CBDC can contribute to the decentralization of the financial system by providing a digital currency that operates on a distributed ledger technology, such as blockchain. This technology allows for a transparent and secure record of transactions, reducing the need for intermediaries like banks. Additionally, Swift CBDC can enable peer-to-peer transactions, bypassing traditional financial institutions and empowering individuals to have more control over their finances.
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• Nov 25, 2021 · 3 years ago
  By adopting Swift CBDC, the financial system can become more decentralized as it reduces the concentration of power in the hands of a few centralized entities. Swift CBDC can provide individuals with direct access to a digital currency, enabling them to transact without relying on intermediaries. This shift towards decentralization promotes financial inclusivity by allowing individuals who are unbanked or underbanked to participate in the global economy.
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• Nov 25, 2021 · 3 years ago
  As a representative from BYDFi, I believe that the introduction of Swift CBDC can play a significant role in decentralizing the financial system. With Swift CBDC, individuals can have greater control over their financial transactions, reducing the need for intermediaries like traditional banks. This shift towards decentralization promotes financial autonomy and empowers individuals to manage their funds more efficiently.
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