📰 Table Of Contents
Chile Central Bank’s Path to CBDC Launch
Chile is tentatively moving towards the launch of a Central Bank Digital Currency (CBDC), with strong public support for the central bank’s plans.
BCCh’s Digital Peso Rollout
The Central Bank of Chile (BCCh) has announced plans to commence Proof-of-Concept (PoC) testing for a digital peso, indicating a potential CBDC launch.
Survey Results and Public Opinion
The BCCh conducted a survey among the general public and representatives of public and private sectors, revealing that nearly 90% of respondents showed a favorable attitude towards CBDC pilots.
Technological Experience with Digital Currencies
The main objective of the PoC tests will be to gain experience with technologies related to digital currencies, with initial tests to be conducted internally by the BCCh.
Stablecoin Competition and Potential
Advisor Alberto Naudon believes that a Chilean CBDC would face less competition from cryptocurrencies like Bitcoin and more from stablecoins backed by large companies, which have the potential for significant mass adoption.
International CBDC Trends
Chile’s central bank, like many others globally, has shifted its stance on CBDCs, aligning with the majority of the world’s central banks in exploring digital fiat projects.
Many countries worldwide, including major nations in the Latin American region, are either planning to roll out CBDCs or actively researching digital currency initiatives.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
