Popularly known colloquially as ‘Crypto Dad’, Giancarlo aired his opinion as he spoke on Yahoo’s ‘On The Move’. According to him, the US must act fast with the development of a digital dollar because China is already ahead. In December last year, the People’s Bank of China was reported to be concluding preparations to begin testing its own central bank digital currency (CBDC). The test was to start in Shenzhen and Suzhou cities with some major telecom companies and a few other commercial banks.
Giancarlo also suggests that a digital dollar might be inevitable. According to him, the future will see a near-complete shift away from physical cash, into mobile wallets for electronic payments. He believes that that space cannot be held for long by credit or debit cards and soon enough, consumers will want something else.
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