On September 22, the president of the Central Bank of Chile (BCCH), Mario Marcel; announced through a virtual conference that the institution is studying the possibilities of launching its own currency digital based on a strategic plan that will be proposed at the beginning of the year 2022.
During the seminar conference “Innovation in the financial industry: a boost to financial reactivation and inclusion”, Mario Marcel provided information on the various agendas that the Central Bank of Chile has right now, among them are: the presentation of the proposal of the Low Value Payments Clearing House (CPBV), Payment Schedule and eventual issuance of Central Bank digital money and with regard to the institution in relation to financial innovation.
Within the framework of the “Payment schedule and eventual issuance of Central Bank digital money “ was that the new project that is still in a mock-up on the creation and launch of the digital asset was announced.
However, the bank president gave the specifications that “It could be used so that people can pay in shops and / or among themselves or, alternatively, so that financial institutions can settle payments between peers.”
In addition, according to the publication made on the company’s web portal, “The digital currency will be issued in a similar way to banknotes and coins.”
It should be noted that to carry out this initiative, the Central Bank of Chile has a work team, headed by Counselor Alberto Neudo, with a high level of preparation, which has the task of creating a medium-term strategy in relation to payments. within the Chilean region.
In the concept of digital payments are inserted “ retail payments, wholesale means of payment, cross-border means of payment, private and cryptoactive digital means of payment, the central bank’s digital currency and the infrastructures that support the various means of payment, internal and external “, in accordance with the provisions of the Central Bank on its website.
Today there are many governments that create new digital assets through the central banks of their countries to be at the forefront of the digital development that the entire world has been having since the arrival of the cryptocurrenciesAlthough it is true that this is not the only reason since it is not hidden from anyone that crypto assets have generated a great fury in all societies and therefore more and more people are leaving aside or reducing their use. of your local money to opt for digital currencies.
The digital money created by central banks is called “Central Bank Digital Currency” (CBDC), which in Spanish means “Central Bank Digital Currency”.
Although CBDCs have various benefits such as payment efficiency, the security provided by their use and the low cost of transactions, they are still under review and investigation by a group of central banks that are They are focusing, according to what was stated by the central bank, on the development of “its operating modalities, regulations and proofs of concept ”.
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