Topic: Swift Cbdc

The SWIFT global messaging system is planning to launch a new central bank digital currency (CBDC) platform within the next 12 months. This move is viewed as a step toward a cashless society, allowing central banks more direct control over inflation and deflation. Critics argue that a digital-only system facilitates government seizure of private assets.

Central bankers at Davos discuss the timeline for implementing Central Bank Digital Currencies (CBDCs), predicting a shift within the next three to five years. There is a specific focus on wholesale digital currencies and the potential obsolescence of the SWIFT interbank payment network.