The retail variant, however, could potentially mean a paradigm shift in the economic relationships between households, commercial banks and central banks that have evolved to date. Such a fundamental shift is not free of risks, and it requires careful consideration. • There is also the question of how strong households’ appetite for such a form of CBDC would actually be.
This user perspective should not be left out in the discussion. We need to see matters in perspective. After all, many of these debates have been fuelled by the plans announced by the Libra consortium. To me, what this shows, first and foremost, is the need to offer fast and cost-efficient systems for cross-border payments. We should go one step at a time.