CreditSuisse Chairman heads to World Economic Forum to push idea of Central Bank Digital Currencies

CreditSuisse Chairman of the Board of Directors Axel P. Lehmann has told a World Economic Forum (WEF) panel organized in Davos, Switzerland, that up to 87 percent of central banks around the world are looking into introducing central bank digital currencies (CBDCs), and shared that he thinks this is an excellent development.

These so-called stable digital currencies are supposed to represent alternatives and ultimately replace cryptocurrencies, including the decentralized kind that has the potential to replace – central banks themselves, by virtue of not needing a centralized issuing or regulatory authority.

And decentralized cryptocurrencies are used and promoted as money with “real” value unlike the fiat kind – yet CBDCs are based on the value of a country’s fiat currency.