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A CBDC clearing and international settlements platform are being studied by the IMF

Officials from the IMF investigated the organization's justification for developing a central bank digital currency (CBDC) settlement platform. Banks are not as eager to trust other organizations as quickly as they once were when the state of the global economy worsens. As a result, a small number of very powerful institutions can now exert control over the financial industry. Money that has been tokenized would be "transferable to anybody and accessible to anyone with the correct private key." The deployment of CBDCs and stablecoins is now being considered by 105 nations, according to statistics from the Atlantic Council.

Additionally, the platform's ledger may be used to create smart contracts, "which are essentially programmable transactions," enabling businesses to hedge foreign exchange risks or guarantee future fund inflows in financial agreements.

 

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