IMF Official Presents Blueprint for Cross-Border CBDCs

New platforms for cross-border central bank digital currencies (CBDCs) could improve efficiency and safety, according to the IMF. They propose a global CBDC platform with capital controls to reduce payment costs. The IMF is working on a global infrastructure for different CBDCs to work together. The system would enhance cross-border payments and financial markets while protecting privacy. Blockchain technology has limitations, including validator costs, security, efficiency, and privacy concerns.