Central banks worldwide must be proactive in adapting to the fast-evolving crypto landscape, urged Cecilia Skingsley, the head of the Innovation Hub at the Bank for International Settlements (BIS). Speaking at the New York Fed Conference on Fintech: Artificial Intelligence and Digital Assets in Manhattan, Skingsley emphasized the need for central banks to embrace technological advancements, including cryptocurrencies and tokenization. Skingsley highlighted the distinctive approach of the BIS Innovation Hub, which focuses on researching and investigating the impact of new technologies on central bank operations. Unlike other institutions, the Innovation Hub actively engages with emerging technologies, including cryptocurrencies, and shares its findings with the global community. Skingsley expressed pride in the Innovation Hub’s project portfolio, which sets it apart from similar initiatives. Related Reading: Solana Rebound Potential: Is $30 The Next Target? In their most recent report titled “BIS Blueprint for the Future Monetary System,” BIS researchers underscored the significant potential of tokenization in enhancing efficiency and transparency within financial markets. However, the report also questioned the current value proposition of cryptocurrencies themselves. Tokenization’s Promise A ..
Support the originator by clicking the read the rest link below.
