AIBC Europe summit: Government issued digital currencies? Yes or no?

Content Team November 25, 2020

SiGMA news

Global Policy Houseners CEO Michelle Civunga N, Founder and CEo of Universal Alexander Borodich, and Frank Schuengel, Head of Biz Dev & Operations at Q Services, join moderator and business development manager at United Remote, Jess Walker to discuss the potential of government issued digital currencies

MIchelle Chivunga N initiates the discussion by addressing Covid-19 and how it affected everything, going deeper in the subejct, connecting how the consequences of the pandemic will also have a key part to playin the shift to diital currencies. Alexander Borodich follows Chivunga and starts by saying it’s a fantastically exciting time to discuss CBDC, saying how he believes that in the upcoming years we will see several countries turn to this new way of payment method.

Chivunga then makes a very good on point on the fact that choice is key when itnegrating something new. She says

‘At the same time within the UK we have an aging population, and a lot of people are much older, and still love the comfort of using their cash if they need to, so what i’m really trying to drive at is that we have to create choice.’

When Frank Schuengel gives his point of view at one point where he emphasizes that he believes that Bitcoin is one of the only true real decentralized currency, and how if the governments start to provide their own digital currencies, they will find other currencies such as Bitcoin in the way, which means that althoguh they won’t be able to block it they will still make it harder for people to use it.

Jess also brings into question the idea that there has been a lot of citizen-governemnt tension over the past year with a lot of protests and governemnt imposed measures and so on, so it is very natural for people to question things, to which Borodich says that eentually the shift will happen and that

It’s very exciting to see how the world is going digital and we will probably thend up with a truly decentralized, global, digital currency at the end.”

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