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Yoav Soffer, the Bank of Israel’s CBDC Project Manager, chats about why Israel needs CBDCs, whether CBDCs would replace cash, privacy and freedom implications, and much more. He spoke with Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, at the Future Blockchain Summit in Dubai.
Follow Michelle Makori on Twitter: @michellemakori (https://twitter.com/michellemakori)
Follow Kitco News on Twitter: @KitcoNewsNOW (https://twitter.com/KitcoNewsNOW)
Follow Yoav Soffer on Twitter: @YoavSoffer (https://twitter.com/YoavSoffer)
0:00 – Why Central Bank Digital Currencies?
9:20 – Would this eliminate cash?
14:10 – Privacy and freedom
25:06 – Hacking and cyber-crime
28:35 – Cross-border payments
36:27 – Sanctions
37:07 – EMP attacks and power outages
42:54 – CBDC risks and benefits
47:36 – Monetary policy
49:55 – Government overreach
52:48 – CBDCs and cryptocurrencies
#blockchain #crypto #banking
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