A Digital Dollar Should Not Be a Knee-Jerk Response to a Crisisby@jay-hao

A Digital Dollar Should Not Be a Knee-Jerk Response to a Crisis

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Governments around the world have been studying the role of a CBDC (Central Bank Digital Currency) in their economy. China began investigating its CBDC six years ago and only today is piloting its DC/EP (Digital Currency/Electronic Payment) in four cities to see if it can replace cash. Digital dollars may seem like a panacea for helping those who need aid fast, advocates of it are overlooking the obvious fact that the infrastructure is not even in place yet. Such a measure must not be rushed nor "cobbled together" during a crisis.

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@jay-hao

Jay Hao

Jay is CEO at OKEx, the world's leading cryptocurrency spot and derivatives exchange


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