A UK CBDC Should be a "Wake Up Call For" the Wider Crypto Industry
- FinTech StartUps
- 21.04.2021 04:24 pm
Don Guo, CEO of Broctagon
“This move comes as no surprise. While China initially ignited this fire, we've seen it now spread to nations such as the UK who has now become the latest example of those acknowledging the inherent advantages of digital tokens. Should this taskforce lead to further developments, the UK – and any other country who can correctly implement a CBDC – will benefit as it will have a currency which is completely borderless, efficient and immutable.
"The endorsement of digital currencies by the Government is poised to increase the popularity of the wider crypto industry. That said, its growth will be limited if the space does not address existing underlying issues quickly. This rise in attention should serve as a wake-up call for the industry to prioritise liquidity provision through enhancing crypto infrastructure. This will ensure both old and new traders consistently have access to the best prices and that the industry reaches the next level of maturity."