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Bank of International Settlements Releases Blueprint for Global Unified Ledger to Support CBDCs and Tokenized Assets, Takes Dim View of Crypto

June 21 (Cointime) - The Bank of International Settlements (BIS) has proposed the creation of a global "unified ledger" to support Central Bank Digital Currencies (CBDCs) and tokenized assets. The BIS believes that tokenization is the future of monetary systems, with programmable platforms overseen by central banks.

The "unified ledger" would allow for automated and integrated financial transactions. The BIS report criticized the crypto sector, stating that it is a flawed system and cannot be the future of money.

The report emphasized the advantages of tokenization, including the ability to transfer "executable objects" without requiring an account manager's intervention and the potential for enhanced supervision and compliance settings.

central bank digital currencies tokenization
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