Proliferating CBDCs across borders could just be a pipedream of many central banks. But should the US sit around to find out, ew_jin asks? Why is the tiny city-state of Hong Kong exploring its own e-HKD, anyway? Crypto2023, presented by Bitstamp.
these data infrastructures will be distributed ledger technology-based, it is unclear whether and exactly how the central authority would build in sufficient data security and privacy safeguards.
Though Hong Kong is rolling out its broader e-HKD pilot imminently, it is unclear when the e-HKD will be fully implemented. But lack of an official delivery date should not justify inaction. The instructive takeaway from Hong Kong and other financial hubs’ move to explore CBDCs should be that the U.S. government needs to monitor collaborative CBDC efforts. In addition to monitoring, the U.S. Federal Reserve should be present at these significant efforts in building alternative pipelines.
Looking more broadly beyond the e-HKD, mBridge may over time shape the contours of alternative financial plumbing. Yes, proliferating CBDCs across borders could just be a pipedream of many central banks. But should the U.S.
To safeguard U.S. leadership in the global financial order, the U.S.
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