Bank of the Republic Studies the Creation of Colombian Digital Currency, Would You Use It?

Financial Services attorney Camilo Gantiva was cited in an article published by Noticias RCN about the possibility of implementing digital currency in Colombia. The Bank of the Republic is currently studying the idea, along with 81 banks around the world, including in countries like Mexico and the U.S. Mr. Gantiva commented that one of the most important points is connectivity, emphasizing that communication standards should be created to transfer information among banks, businesses, people, payment systems and their networks. He explained that this process could take 12 months or more, because it is necessary to develop a new infrastructure.

"They have to create a platform that right now does not exist," he said.

READ: Bank of the Republic Studies the Creation of Colombian Digital Currency, Would You Use It?