Blockchain & Digital Money: Adoption of CBDC and Stablecoins

Nowadays, one of the best keyword-conversation-topic among plenty of tech-enthusiast is the disruptive effect of the financial industry digitalization. How technologies like blockchain and machine learning will improve transactions and back-office processes. And even, how digital assets will enhance transactions by making it all electronic. But, the truth is, our financial system is pretty much digital.

Think about it. Most of our financial interactions are digital — and even more so since the digitalization jump that Covid-19 made us take-. Money, for most of the developed world, basically only numbers ticking up and down in bank accounts. Hence, the majority of the money currently circulating is digital, not paper, especially those dollars/euros/pounds that have been printed as financial aid packages.

And part of that digital money out there in the world actually comes from banks making loans. It works, in simple words, just by typing numbers. For instance, say you need a hundred thousand dollars to found a competitive e-sports team. The bank checks out your credit history, and they’re like, you’re good. So, they decide to give you the money. The loan officer will type some numbers into his or her computer, and your account balance is going to increase by $100,000.