A World Economic Forum (WEF) panel comprised of central bankers and global tech providers has profiled central bank digital currencies (CBDCs) as the future of central bank money, presenting them as one of the solutions for limitations in the payments sector today. However, they have also stated these present several limitations still to be addressed.

Governor Velarde explained that, in his opinion, CBDCs are rising as a solution for payments and credit that goes beyond banking integration. To him, the implication of central banks in building these tools has to do with establishing standards and also integrating private banks into the loop, while providing financial inclusion to people still out of the traditional banking system.