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Stanley Yong, global leader for central bank digital currency solutions (CBDC) at IBM, believes that CBDC can help prevent some of the risks that caused the 2008 financial crisis. Yong made comments during the interview on CNBC; s Squawk Box on November 14. CBDC is distributed and supervised by federal regulators and they are basically fiat centralized in digital form.
During the interview, Yong said that the CBDO gave "certainty of completion" for financial services and this is exactly what will help prevent the Lehman crisis in 2008. Yong then explained that settlement freezing occurs when the agency , lacks trust in shipping versus payment mechanisms , and CDBC solves this problem by providing transparency and better insight into institutional liquidity.
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