Poland should join the euro zone or issue its own CBDC

cryptoshitcompra.com/wp-content/uploads/2021/08/Poland-should-join-to-the-euro-zone-or-issue-your.jpg »alt =» Poland should join the Eurozone or issue its own CBDC – CEO of the 101 stock exchange »class =» content-img »/> Source: iStock / darrro

To maintain Poland’s ability to freely conduct its monetary policy, the country’s authorities will have to make a choice: join the eurozone or launch a national central bank digital currency (CBDC), according to Marek Dietl, executive director of the state affiliate. Warsaw Stock Exchange (WS).

National Bank of Poland (NBP) may be forced to issue its digital zloty to preserve the country’s monetary sovereignty, according to a recent analysis by Dietl.

Although Poland is a member of the European Union, it is not yet a member of the euro zone and the zloty is not yet in the ERM. For the European Commission website, “Poland does not have a deadline for the adoption of the euro, but aims to do so as soon as possible.”

Dietl argues that if Poland does not join the euro zone in the near future, which currently includes its 19 EU member states, the country should redouble its efforts to launch a CBDC ‘in a situation where, between about few years, the architecture of the world financial system will probably be determined by the digital currencies: dollar, euro and yen ”.

“In this new caral, the traditional fiat currency and the digital currency would work in parallel, and the [Polish] central bank would have full control over the base and monetary policy, it could not only defend the zloty, but also create the conditions for its expansion, “said Dietl.

In the analysis, published by the country’s conservative think tank. Jagiellonian Institute , the CEO builds on his earlier comments made during a panel discussion in May.

“If we don’t introduce the digital zloty, whether we like it or not, we will end up using the digital yuan, the dollar or the euro because it will be more convenient to use and liquid,” he said.

digital zloty could present a wide range of benefits to Polish consumers by democratizing their access to various segments of the financial market, Dietl said, adding that ‘such a digital currency is inevitable, especially as there will be increasing security measures. efficient. Even if there will also be those who want to ignore them.

Read also Bitcoin breaks the 200-day moving average

That said, the current leadership of the Polish central bank has shown little enthusiasm for issuing a CBDC.

Marta Gajęcka, a board member of NBP, said during the same debate that the bank was not working on the digital zloty project, but was observing the efforts of its colleagues across the region.

“ digital currency must be linked to safe and reliable systems. Currently, there is no system in the world that guarantees 100% security ”, he said.

____

To find out more: – CBDC: a solution in search of a problem? – ECB launches a digital euro project with a two-year investigation and a bitcoin attack

– Samsung “to join Kakao” to test offline payments for South Korea’s CBDC – China hits senators who have called for an Olympic blockade of the digital Yuan

– Polish lawmakers print ministry of finance on bank accounts of cryptocurrency companies – ‘Don’t lull’ as European Commission ponders a KYC crypto trap

Source link

more

Related Posts

© 2024 Cryptocoin Budisma.net