It is no longer news that different governments around the world are taking a keen interest in the development of a central bank digital currency. The lastest government to advocate for the creation of a central bank digital currency is the Dutch government, which is currently a member of the EU state.
The Dutch government said in a report that was released yesterday that they are willing to commence pilot of a Dutch central bank digital currency, as well as accommodate the CBDC of any of the EU member state. In the report, they also highlighted the benefit of the smart contract feature that is synonymous with blockchain applications.
The government also believes that the creation of a CBDC will increase the migration of transaction from paper-based to digital forms. This will further create more options for people that already utilise digital currencies for their operations.
As more people are getting introduced to digital payments to control the spread of infectious diseases, the government believes this will be an appropriate time to pace up any plan for a CBDC introduction.
Therefore, they stated that they are welcome to further discussions and debate on this subject with any member of the EU state that wants to consider their ideas.
How serious is the Dutch government about a CBDC?
The Netherlands is one of the EU states that has a relaxed cryptocurrency environment. Even before cryptocurrencies became a mainstream idea, the government had started sponsoring researches into studies of digital currencies, and blockchain projects.
Therefore, the introduction of a CBDC aligns well with the government stance of creating a digitally powered economy. Unlike other governments, the Dutch were more open to cryptocurrencies and sought to understand the technologies, and potentials inherent in mass adoption.
Source: Coindesk
