Visa’s Head of Crypto Cuy Sheffield Says CBDC is the Most Important Payment Trend in the Next Decade

Cuy Sheffield, the head of credit card giant Visa’s crypto projects, has said that Central Bank Digital Currencies (CBDC) is the most important payment trend in the next decade.

It has been reported that Sheffield tweeted in a post that “as governments evaluate CBDC, the path they decide to take will have major implications for privacy, monetary sovereignty, geopolitics, and financial inclusion, as well as the global adoption of crypto dollars and Bitcoin.”


2/ As governments evaluate CBDC, the path that they decide to take will have major implications for privacy, monetary sovereignty, geopolitics, and financial inclusion, as well as global adoption of crypto dollars and Bitcoin — Cuy Sheffield (@cuysheffield) July 3, 2020

He said:

“I’d argue that central bank digital currency (CBDC) is one of the most important trends for the future of money and payments over the next decade. Regardless of anyone’s personal views of whether it’s good or bad, the reality is that global interest in it is not going away.”

However, Sheffield has been a proponent of CBDC for a while now. In May, he said that central banks are not interested in consumer-facing digital currency solutions. Visa has not been shy about its interest in digital currencies.


Visa head of crypto says CBDC is the important payments trend in the next decade https://t.co/jRPMY9BJpJ — Cointelegraph (@Cointelegraph) July 5, 2020

The company filed a digital currency patent application earlier this year.

Thus, central banks have been experimenting with the idea of offering digital currencies themselves.

Source: Cointelegraph | Image: Medium

#Visa #cbdc #CryptoNewsPoint #DigitalNotice #CuySheffield

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