BIS official: Central bank not interested in personal data

Cecilia Skingsley, head of the Innovation Center at the Bank for International Settlements (BIS), stated that central banks around the world are not interested in personal data. This statement seems to be aimed at alleviating privacy concerns surrounding CBDCs, as the central bank group has been pushing governments around the world to continue their work on CBDCs in preparation for the future of payments. However, major jurisdictions such as the United States and the European Union are facing increasing criticism over their plans to issue CBDCs, with a major issue being whether and how citizens' privacy will be protected. Skingsley urged the public to remain open to technological innovation, and she believes that wholesale CBDCs are another form of currency used only between banks, which could become a "game changer" for cross-border payments, citing BIS Innovation Center projects such as Jura, Dunbar, and mBridge as examples.