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Colombia’s CBDC Showdown: Why the Central Bank’s Digital Peso Faces an Uphill Fight
Colombia’s CBDC Showdown: Why the Central Bank’s Digital Peso Faces an Uphill Fight
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Bogotá’s financial brass wants a digital peso—but trust issues, tech hurdles, and that pesky ’cash under the mattress’ habit might derail their plans.
The Hard Sell
Convincing Colombians to swap bolívares for blockchain? Good luck. Even with inflation hitting 7.6% last quarter, street vendors still prefer crumpled bills over QR codes.
Bankers vs. Bitcoiners
Private banks cry foul over deposit flight risks, while crypto traders smirk—after all, stablecoins already move $1.2B monthly across LatAm borders. The central bank’s response? ’But ours has... um... regulation.’
The Kicker
Watch this space: if the CBDC launches with 0.5% interest like Brazil’s Drex, it’ll be the most exciting savings account since 1982. Revolutionary.
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