BSP Governor Benjamin E. Diokno says that the goal of the project is to enhance “the payment system’s safety, resiliency, and efficiency.”
As the world of finance continues to transform, new forms of money are challenging traditional monetary infrastructures that have been around for a long time. Currently, central bank digital currencies (CBDCs) have caught the eye of various countries, including the Philippines.In a joint event organized by Bangko Sentral ng Pilipinas (BSP) and the Alliance for Financial Inclusion, Benjamin E. Diokno, the Philippines’ central bank governor, announced the rollout of Project CBDCPh, a pilot implementation of a CBDC for the country. According to Diokno, the project aims to improve “the payment system’s safety, resiliency, and efficiency.”“The project aims to build organizational capacity and hands-on knowledge of key aspects of CBDC that are relevant for a use case around ad
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