LONDON—Even though he has led the Digital Dollar Project as a co-founder and executive chairman, J. Christopher Giancarlo, believes that CBDCs aren’t the only way forward in finance, according to a new report.
“The sometimes-fashionable debate at conferences, such as this, between CBDC's and stablecoins and crypto is a complete and false choice,” Giancarlo said at the Financial Times Crypto and Digital Assets Summit here, according to Decrypt.com. “The global future is all of the above: crypto, CBDCs, stablecoins, and more.”
Decrypt said in its analysis the comments are “music to the ears of many crypto enthusiasts who see CBDCs as an oppressive force made by authoritarian governments or a tool to help reject crypto as a new financial standard.”
The Digital Dollar Project is a neutral, non-profit organization which aims to help explore digital innovation in money. The company has said it believes the U.S. should only consider issuing a CBDC once key design elements are properly understood, to avoid security and privacy risks, Decrypt said.
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