IMF analysts have released a report about the need to create a financial system that includes all the positive aspects of traditional and digital currencies.
Given the failure of the Terra ecosystem, the cryptocurrency industry needs to undergo some improvements.
Pros of crypto:
• lack of integration in the current financial system.
According to the IMF analysts report, the launch of CBDC is a new step toward improving the monetary system.
The system opens up new technical possibilities for:
• low transaction fees.
Some Central Banks are already working on this project. It is planned to provide direct transactions between different central banks.