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CBDCs Are the Future of Money, IBM Consulting Exec Says

Central bank digital currencies (CBDCs) have the potential to change payment systems, Shyam Nagarajan, an executive partner at IBM Consulting said.

Nagarajan said that CBDCs are the future of money, but issuers need to consider a hybrid-like model.

“They are replacing the current digital currency system, and in a way, they are controlled,” Nagarajan said. “This is an excellent position where a combination of permissioned and permissionless is necessary.”

While many CBDC pilot projects are still in a development phases, Nagarajan said payments will eventually be made with CBDCs. 

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