Central bank digital money: the basis of a new global monetary system?

Central bank digital currencies (CBDCs) can become a catalyst for a new international monetary system, says Maxim Oryshchak, a CST analyst. The expert believes that such a scenario is possible due to the influence of the United States and China on traditional payment systems, which makes them vulnerable in the event of an escalation of the conflict between these two great powers. The article "CBDC. How Central Banks Launch National Digital Currencies Around the World" on Delo.ua provides a detailed analysis of what digital money is and how it can change the global financial system.

One of the possible reasons for the emergence of a new international monetary system is the possible escalation of the conflict between the United States and China, which may lead to mutual sanctions restrictions, complicating or even blocking payment transactions within the existing "dollar" system. In this case, CBDCs can act as a tool for creating a new global payment system. For this purpose, it is important to build digital "bridges" between different countries that will unite different CBDCs.

Governments are actively exploring the possibilities of developing national digital currencies for use in foreign trade and strengthening control over cryptocurrency operations in domestic markets.

CBDCs provide states with the ability to fully control transactions within the cryptocurrency payment system. Although it remains to be seen how states will use this financial instrument, it is worth being prepared for various scenarios that may affect society.

The growing role of CBDCs in the global economy and their potential impact on the global financial system make this topic relevant for discussion and further research.