CBDCs are 'anti-democratic' says Circle's Dante Disparte

Episode 72 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro, and Chief Strategy Officer and Head of Global Policy at Circle, Dante Disparte.

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Circle's USDC stablecoin is the second largest by market capitalization, and has steadily grown in dominance over the last couple of years.

In this episode of The Scoop, Chief Strategy Officer and Head of Global Policy at Circle, Dante Disparte, joins host Frank Chaparro to share his take on what a responsible approach to stablecoin regulation might look like and why he believes central bank digital currencies are "anti-democratic."

According to Disparte, the separation between the central banks and citizens' pockets is important to maintain:

"The gap between the central bank, the banking system, your wallet and how you spend money is a powerful feature and not a bug."

Furthermore, Dante believes that central bank digital currencies ignore the fundamental peer-to-peer potential of digital assets:

"A central bank digital currency would be the equivalent of building a high speed train engine, but not caring about the rail network, nor the station stops. And the real powerful breakthrough of blockchain based finance is that the infrastructure has networked peer to peer station stops."