The Central Bank of Chile has just issued a new report studying the opportunities and drawbacks that the issuance of a central bank digital currency (CBDC), the digital peso, might bring.
The Central Bank of Chile revealed it is studying how to issue a national digital currency, the digital peso. The bank issued a report titled “Issuance of a Central Bank Digital Currency in Chile,” where it explores the possibility of the creation of a central bank digital currency in the future, the mechanism it might use, and how it will consult all sectors of the economy on this issue.
” In this sense, the report concluded that:The issuance of a CBDC would enable the benefits associated with digital transformation to be enhanced, while mitigating some of its risks. In particular, a CBDC could contribute to the development of a more competitive, innovative, integrated, inclusive and resilient payment system.The report also calls for further analysis of the cost-benefit balance of issuing such a currency.
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