Korea’s Central-Bank Crypto Might Overshadow Commercial Banks

Korea’s Central-Bank Crypto Might Overshadow Commercial Banks

The Bank of Korea (BOK) has shared its concern in the report regarding the potential of central-bank digital currency to overcome the commercial bank. The CBDC (Central Bank Digital Currencies) is a kind of a BOK-issued bank account. People trust it more than one in a commercial bank. Demand deposits are one of the biggest sources of loans by banks.

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