Facebook and Calibra Head David Marcus: What Problems Would Wholesale CBDCs Even Solve?
During a panel discussion at the World Economic Forum which included the topic of Central Bank Digital Currencies (CBDCs), David Marcus, Head of Calibra, highlighted that digital currencies are the key to innovating cross-border payments and solve the issues of the unbanked—regardless of if that digital currency is Libra or not.
As reported by Bloomberg, the rift between the global leaders on the future of digital payments was on display during the World Economic Forum’s annual meeting in Davos, Switzerland.
The World Banks are Developing CBDC
Marcus: Retail CBDCs Makes Sense, Wholesale CBDCs Do Not
During the Panel Discussion, Marcus was quick to highlight the difference between retail and wholesale CBDC—
Marcus further questions on whether the banks are technologically able even to handle retail CBDCs. He noted that the development of the “hybrid model,” which incorporated properties of both retail and wholesale versions of CBDC, could solve key issues.
Image via Shutterstock