Swiss city of Lugano embraces diverse digital currencies future
(cointelegraph.com)https://cointelegraph.com/news/lugano-bitcoin-cbdcs-stablecoins-coexistenceA future where Bitcoin, stablecoins and central bank digital currencies can coexist in the Swiss city of Lugano is “quite possible,” according to a local official.
Paolo Bortolin, deputy chief financial officer for the city of Lugano, is optimistic about a future where different digital currencies and assets could be used all together. That is because Bitcoin
BTC
, central bank digital currencies (CBDC) and stablecoins could potentially effectively serve different purposes for users, the official believes.
“Bitcoin, being Bitcoin, is a constant presence and operates independently in a fully decentralized manner,” Bortolin said in an interview with Cointelegraph.
In contrast, CBDCs are centralized by definition and name. Wholesale CBDCs are used within the financial sector for transactions among institutions, while retail CBDCs are seen as the standard digital currency for everyday payments or peer-to-peer transactions, similar to those made with the traditional Swiss franc.
While Bitcoin and CBDCs do not have a direct conflict, some types of state-issued money could potentially conflict.
