Major Central Banks Met to Discuss Work On Joint CBDC Project AT IMF-hosted Conference

By Robin Wong | February 7, 2020
Crypto Conferences Are Still Trending Despite Bear Markets
Crypto Conferences Are Still Trending Despite Bear Markets

A conference will be held in April this year, with participation form 6 central bank heavyweights, to talk about the possible introduction of central bank digital currencies (CBDC).

Specifically revealed by The Japan Times on February 6th, the governors of major central banks will sit down together at the conference, to debate the potential of a jointly-developed CBDC project. 

The participants will also provide their own expertise over a wide array of different matters, nominally cross-currency settlement and cybersecurity.

Particularly, central banks of the European Union, the United Kingdom, Canada, Japan, Sweden and Switzerland will reportedly meet in Washington D.C, and join in a International Monetary Fund-organized conference. 

The conference will be one of the initiatives of a larger, previously set partnership of the involved central banks. In January this year, the Bank of England disclosed its alliance with the above-mentioned central banks, along with the Bank for International Settlements, to explore the possibility of rolling out CBDCs. 

The involved central banks are likely to publicly issue a report, regarding their discussion of the matter, some time this year. 

The arrival of Facebook’s Libra project has been the necessary motivation for numerous central banks across the globe to accelerate their research on digital coins.

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