International Monetary Fund’s Tao Zhang noted that CBDC was a “widely accessible, digital form of flat money that can be legal tender” and believes that digital currencies issued by central banks could bring a number of benefits both for general purpose and wholesale.
“First, a more efficient payment system. Second, enhanced financial inclusion. Third, more stability and lower barriers to entry for new firms in the payments system. Fourth, enhanced monetary policy. And fifth, a means of countering new digital currencies.”