BIS: Digital Cash Privacy Potential Faces Bank Data Risks
Digital cash could offer privacy comparable to physical money, but the BIS says bank data breach risks remain a barrier to production readiness.
The Bank for International Settlements (BIS) said digital cash has the potential to provide a level of privacy similar to that of physical cash.
However, the BIS said the technology is not yet ready for production, citing risks that include data breaches at banks.
The assessment highlights a distinction between digital cash’s potential privacy benefits and the security challenges that must be addressed before it is ready for use.
Source: Cointelegraph
