Visa’s Head of Crypto Cuy Sheffield Says CBDC is the Most Important Payment Trend in the Next Decade
Visa’s Head of Crypto Cuy Sheffield Says CBDC is the Most Important Payment Trend in the Next Decade
July 6, 2020
Visa’s Head of Crypto Cuy Sheffield Says CBDC is the Most Important Payment Trend in the Next Decade
Visa’s Head of Crypto Cuy Sheffield Says CBDC is the Most Important Payment Trend in the Next Decade
July 6, 2020

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.”

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.

ALSO READ :  Silk Road Video Reveals Never-Seen-Before Information About The Film ‘Silk Road Case: The Real, Untold Story’

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


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Bybit Rolls Out A BTC/USD Quarterly Futures Contract

Bybit Rolls Out A BTC/USD Quarterly Futures Contract

Bybit rolls out a BTC/USD quarterly futures contract today. Two contracts will be offered at launch BTCUSD1225 by settling on December 25, 2020, and BTCUSD0326, which will be settled on March 26, 2021. It has been...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.