Saturday, June 25

Gartner: 20% of the world’s largest companies will use CDBC by 2024

Key facts:
  • Gartner believes CFOs will learn more about cryptoassets in 2022.

  • Companies prefer blockchains from banks, instead of developing their own tools.

A study by the consulting firm Gartner revealed that 20% of large companies in the world will use central bank digital currencies (CBDC) for commercial transactions in 2024.

They detail that corporations will use digital currencies, among other things, to make payments, as a store of value and to take advantage of the performance provided by decentralized finance (DeFi).

“The rise in the widespread acceptance of cryptocurrencies in traditional payment platforms and the rise of digital currencies from central banks will drive many large companies to incorporate digital currencies into their applications in the coming years,” highlights the document recently published.

In this sense, the firm assures that have noticed since the beginning of 2021, the interest among CFOs by blockchain applications.

This is a position that has changed over the years. In 2019, Gartner itself noted that companies had lost interest in the blockchains because the experiments and the implementations did not work, as reported by CriptoNoticias.

Gartner Recommendations

Among the recommendations they make in the document, they suggest that companies interested in adopting CBDCs should evaluate “the specific use cases of digital currencies.”

Each core use case comes with a number of technological, regulatory, legal, and strategic considerations for CFOs and application leaders alike to evaluate, including selecting the right service providers and the ability to monitor and react to guidance. regulatory ongoing.

Gartner firm’s CBDC report.

Boost for the adoption of digital currencies

The acceptance by 2024 of CBDCs by large companies is partly driven by the fact that the Companies do not have to invest in developing applications on blockchains. They assure in the report that, at present, many banks, payment platforms, institutional custodians of digital assets and wallets for cryptocurrencies “have already done the heavy lifting” in this area.

Companies are being driven to adopt CBDCs to guard against inflation in the United States. Source: Kuleshin / stock.adobe.com

Likewise, they consider that another factor that can influence the acceptance of digital currencies is because they can serve as protection given the “highest inflation in 39 years” experienced by the United States. At the beginning of December, the consumer price index (CPI) of that country showed an inflation rate that reached 6.8%, due to the fact that the United States Federal Reserve has created dollars from scratch at an unprecedented rate. .

Gartner also noted that by 2022 they expect CFOs to “rapidly increase” their knowledge about digital assets, currencies and other blockchain applications.

Risks of central bank digital currencies

While digital currencies can benefit cross-border trade for nations and businesses, under these there is a risk of loss of privacy.

Are digital currencies are not anonymous and governments can take advantage of its use to exercise control over the population. They can also be confiscated by the state.

Unlike cryptocurrencies, such as bitcoin, which are valued for their anonymity and independence from the monetary authorities. In addition, they do not have volatility, since they function as electronic fiat money monopolized by the value of the dollar.

Reference-www.criptonoticias.com

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