BCCH published a report in that matter, detailing the possibility of creating a digital currency in the future, and the mechanism it would use. Among the benefits of issuing the digital peso, BCCH mentions that it would enhance the benefits arising from digital transformation while mitigating some of the risk associated with it, as well as potentially contributing to the development of a more competitive, integrated, and inclusive payment system in Chile.
The report also states that the issuance of a CBDC (Central Bank digital currency) will not eliminate or substitute traditional payment methods, especially cash, but rather provide an alternative and a complementary means of payment.
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