Deputy Governor of the Bank of Mexico: CBDC, which is not completely anonymous, cannot attract public interest

Javier Calafell, deputy governor of the Bank of Mexico, delivered a speech on the potential advantages and disadvantages of the central bank's digital currency (CBDC) at an event held by the Federal Reserve Bank and the OMFIF Foundation on July 9. The deputy governor said that the central bank's digital currency will not generate much interest to the public unless full anonymity is provided. While outlining the advantages of CBDC, such as payment security and cost-effectiveness, Calafell believes that there are many important factors that prove its inefficiency. According to Calafell, the existing digital system already satisfies the payment function of CBDC, and its "backup" function is almost meaningless.