{"id":540494,"date":"2023-01-18T17:30:00","date_gmt":"2023-01-18T14:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/wef-2023-cbdcs-need-to-find-a-real-problem-to-solve-says-sarb-governor\/"},"modified":"2023-01-18T17:30:00","modified_gmt":"2023-01-18T14:30:00","slug":"wef-2023-cbdcs-need-to-find-a-real-problem-to-solve-says-sarb-governor","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/wef-2023-cbdcs-need-to-find-a-real-problem-to-solve-says-sarb-governor\/","title":{"rendered":"# WEF 2023: CBDCs need to find a &#8216;real problem&#8217; to solve, says SARB governor"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3be619a97b2\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3be619a97b2\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/wef-2023-cbdcs-need-to-find-a-real-problem-to-solve-says-sarb-governor\/#%E2%80%9D_WEF_2023_CBDCs_need_to_find_a_%E2%80%98real_problem_to_solve_says_SARB_governor_%E2%80%9C\" >&#8221; WEF 2023: CBDCs need to find a &#8216;real problem&#8217; to solve, says SARB governor &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_WEF_2023_CBDCs_need_to_find_a_%E2%80%98real_problem_to_solve_says_SARB_governor_%E2%80%9C\"><\/span>&#8221; WEF 2023: CBDCs need to find a &#8216;real problem&#8217; to solve, says SARB governor &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvNmJlOTUyODctNjUxMy00YTBjLTgyM2EtM2VkNjgwNTk5N2RkLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>South African Reserve Bank (SARB) governor Lesetja Kganyago highlighted issues surrounding the introduction of central bank digital currencies (CBDCs) at the World Economic Forum (WEF) 2023, held in Davos, Switzerland.\u00a0<\/p>\n<p>In a WEF 2023 panel discussion dubbed \u201cIn the Face of Fragility: Central Bank Digital Currencies\u201d Kganyago <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2023\/sessions\/in-the-face-of-fragility-central-bank-digital-currencies\">voiced<\/a> his opinions on CBDCs and questioned if there\u2019s a real problem solved by this new <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>. Kganyago said: <\/p>\n<blockquote><p>&#8220;Is this a solution looking for a problem or do we have some real problem that we are trying to solve?&#8221;<\/p><\/blockquote>\n<p>The central bank governor also highlighted that the countries which are researching and looking to introduce CBDCs highlighted several reasons for its implementation. This includes the modernization of the central bank, making national payment systems more efficient, dealing with domestic market failure and strong financial inclusion. <\/p>\n<p>However, the government official raised the question of demand. Kganyago pointed out there has to be a national conversation before introducing CBDCs. He argued that before introducing this to the public, central banks should make sure that the people actually want to use it. <\/p>\n<p>Following these points, Kganyago mentioned that the SARB is taking a cautious <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach when it comes to CBDCs. \u201cWe are going to be good students when it comes to retail CBDCs and would rather be a follower than to be a first mover,\u201d he said. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Davos 2023: Education is key to driving sustainability in blockchain and beyond<\/em><\/strong><\/p>\n<p>Back in 2021, the SARB governor also voiced opposition to crypto being deemed as currencies. The government official said that crypto only meets two out of three requirements for currencies, arguing that it lacks <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> adoption. <\/p>\n<p>In other parts of the WEF 2023 event at Davos, Cointelegraph reporter Gareth Jenkinson spoke with Ava Labs CEO Emin Gun Sirer and discussed decentralized finance and its role in complementing traditional finance. Sirer noted that the two financial worlds are now merging despite their differing values in the beginning. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/wef-2023-cbdcs-need-to-find-a-real-problem-to-solve-says-sarb-governor\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; WEF 2023: CBDCs need to find a &#8216;real problem&#8217; to solve, says SARB governor &#8220; South African Reserve Bank (SARB) governor Lesetja Kganyago highlighted issues surrounding the introduction of central bank digital currencies (CBDCs) at the World Economic Forum (WEF) 2023, held in Davos, Switzerland.\u00a0 In a WEF 2023 panel discussion dubbed \u201cIn the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":540495,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/6be95287-6513-4a0c-823a-3ed6805997dd.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75046,79671,90812,70934,72602],"class_list":["post-540494","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cbdc","tag-world-economic-forum","tag-davos","tag-regulation","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/540494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=540494"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/540494\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/540495"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=540494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=540494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=540494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}