Lithuanian bank releases its research report on central bank digital currencies

According to Bitcoinist, the Bank of Lithuania recently released its research report "CBDC in the Discussion Vortex", highlighting the country's ambitions and perspectives on the current crypto industry. The report states that the CBDC has recently received considerable attention among policy makers and academics. The report expresses three main points on this issue, including ways to meet the demand for safe, reliable and cost-effective tools for cross-border payments, ways to address the shortage of secure payment methods, and flexible solutions for different purposes. The report outlines the possibilities of various types of CBDC with different characteristics, including retail CBDC, wholesale CBDC, and interest-based CBDC.
Marius Jurgilas, board member of the Bank of Lithuania, said: "The pace of development in the digital asset and currency fields is fascinating. It is not prudent to be an innocent bystander because it puts the regulator in a paternalistic anxiety situation as parents see His 'parental control' is completely outdated and unsatisfactory. "He added that the preferred method is to face risks and gain practical experience in a controlled environment, and protecting yourself from new technologies is an outdated concept. The report concludes that modern technology seems to be able to address the need for global solutions to ensure the interoperability of cryptocurrencies between central banks. According to previous reports, the Central Bank of Lithuania announced that it will issue a blockchain-based digital commemorative coin in the spring of 2020.