G20: Central bank digital currency cannot be accepted and must be issued.

Central Bank Digital Currency (CBDC) became the hot topic of the G20 board recently in Bali. The G20 countries believe that the digital bank is irrevocable and must be issued.

Dody Budi Waluyo, Vice President of Indonesian Financial Institutions (BI), said the announcement of the digital financial bank is increasingly in line with the industry of digital digitization and the growth of private companies managing digital assets.

Dodi explained that there are at least two explanations for the release of digital currency by the central bank that the G20 countries are discussing. "There are two questions: is this digital banking company published by a medium-sized bank or by a private company?"

In this case, the banker explained that there are two ways for a medium-sized banker to declare: directly or indirectly or indirectly or secondarily. Directly, citizens, including households and businesses, can receive CBDC tokens directly from the central bank, and the public can exchange notes or coins or withdraw them directly from their bank account. not right. Aliases are scanned by the bank in two steps.

This is similar to the circulation of banknotes and coins that is being introduced now. "But from a central bank perspective, it's clear that the central bank needs the numerical advantages of the central bank. Bankruptcy," Dodi said. digital banking services.

The reason for this is that to date, there is no central bank digital currency model that can interact across borders. The formation of central bank digital currencies provided by developing countries such as Europe, the United States and China has so far been quite different. With cross-border connectivity, this digital banking company can make border crossings easier, faster and cheaper.