Alexander Filatov, TON Labs: "All countries will have their own CBDC in five years".

  • 28. August 2020 at 8:57

Blockspeak interviewed Alexander Filatov, managing partner of TON Labs, developer of international ecosystems for the blockchain Telegram Open Network platform.

TON Labs has the merit of having developed and implemented a complete TON OS operating system.

In this interesting chat with the host Monty Munford, Filatov talked about digital currencies of central banks, crypto in general, his point of view on Bitcoin and also provided insights on the Free TON project.

CBDC and crypto market

„I believe that in five years, at most, all countries will have digital currencies of central banks, the so-called CBDCs“.

According to Filatov’s projection, in about five years, we will live in a world where digital transactions supported by a distributed accounting system will be mainstream and all our transactions will be recorded on a much better network than conventional financial systems.

The adoption of distributed register systems is imminent as central banks around the world are considering national digital currencies. Economic experts are excited about this implementation of new technologies, as digital currencies of central banks will have the ability to serve as a virtually cost-free means of exchange, a secure deposit of value and a stable unit of account.

„There may be two versions of CBDC, one will be connected to their fiat versions and the other will be completely independent… as an experiment“.

Filatov also believes that many governments around the world could launch their CBDCs as an experiment, to assess their impact on the economy, the monetary system of the country and its overall global performance. Filatov also gave the example of Venezuela to explain his statement.

Repercussions on Bitcoin and other cryptocurrencies

What will be the effect of CBDC on Bitcoin and Ethereum, asked Blockspeak to Alexander:

„I think they will all coexist. There will be free categories – there will be some CBDCs from central banks, there will be stablecoins linked to gold reserves… There will be decentralized independent chains like Bitcoin, Ethereum and Free TON“.

The future is uncertain regarding the regulation of independent decentralized chains like Bitcoin. But experts like Filatov believe in coexistence and expect a future where we can use the currencies of our choice.

About TON Labs
TON Labs is a basic infrastructure and development ecosystem for TON (Telegram Open Network). Its secure and accessible TON.Dev and TON.Space environments will provide a complete implementation of the TON node, a versatile toolchain and a state-of-the-art SDK, as well as new ways in which users can interact with fintech services. It will enable the developer community to create, implement, deploy and manage TON chains for consumer and business applications.