People distrust big tech companies, the recent survey showed. Emerging markets are more loyal both to state-backed and private digital money. People are unlikely to use digital money issued by big tech companies as they do not trust them, the latest research performed by Official Monetary and Financial Institutions Forum revealed. According to the poll, carried out in 13 countries around the globe, people in all advanced economies would not touch money issued by tech companies. While people in emerging economies were more friendly, they did not enjoy the idea of using money created by search engines or social media giants. The highest level of scepticism was registered in Germany, France and the UK. Central Bank-issued digital coins (CBDC) were considered a better idea and favored ahead of private sector alternatives, including over-hyped Facebook’s Libra. CBDC gained support of 51% of respondents. The research results are likely to support global central banks efforts to create state-back alternatives to private projects such as Facebook’s Libra coin. Philip Middleton, the OMFIF’s deputy chairman commented: The advent of Libra has completely changed what was a theoretical backroom game into something more urgent . . . The debate has been propelled from the guys with green biros in the back office right up into the board room. Notably, people in emerging markets are more inclined to use digital money with Indians the most optimistic both about central bank digital currency and coins issued by tech companies. Among developed economies, people were Japan, the UK and Canada were ready to trust CBDC, while France, Germany or Italy opposed to it reflecting the degree of trust towards central banks. The US citizens had the strongest preference for using cash. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next EUR/USD fades the spike to 1.1050 ahead of data, ECB-speak FX Street 2 years People distrust big tech companies, the recent survey showed. Emerging markets are more loyal both to state-backed and private digital money. People are unlikely to use digital money issued by big tech companies as they do not trust them, the latest research performed by Official Monetary and Financial Institutions Forum revealed. According to the poll, carried out in 13 countries around the globe, people in all advanced economies would not touch money issued by tech companies. While people in emerging economies were more friendly, they did not enjoy the idea of using money created by search engines or social media… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.