In the next three years, a “strong” national digital currency will emerge in the world. The Block writes that this estimate was given by the Governor of the Bank of France, Francois Villeroy de Galo.

This is how the head of monetary authorities reacted to the question about the possibilities of using CBDC for day-to-day operations.

“We did some experiments that got us closer to that. They have not been outlined yet, but we can implement this in the next three years. Fewer questions with a wholesale CBDC” said the official.

General manager IMF Kristalina Georgieva supported this position. She announced a “wide presence” of the CBDC over the next five years.

Panelists at Davos talked about the Bahamas’ digital naira, yuan and sand dollar projects.

Georgieva also touched on the collapse of TerraUSD.

“When someone promised you 20% returns on something that is not backed by any asset, what would you call it? For us, it’s a pyramid.”stressed.

The head of the IMF expressed his sympathy for those who lost money in the Terra project. He recommended that you better understand this “new world of investment” where not all assets are worth calling hard money.

With proper regulation, cryptocurrencies have the potential to offer faster service, lower cost and wider reach. However, Georgieva added, “on condition that we separate the apples from the oranges and bananas.”

Recall that the G7 finance ministers were called upon to accelerate the development of cryptocurrencies regulation after the collapse of TerraUSD.

Former board member ECB Fabio Panetta authorized the issuance of a digital euro until 2026.