TechFlow News, February 18 — According to Cryptonews, United Nations Assistant Secretary-General Kannan Wignaraja has called for exploring how cryptocurrencies, central bank digital currencies (CBDCs), and stablecoins can advance human development.
Wignaraja noted that Bitcoin and Ethereum reached a peak market capitalization of $3.9 trillion in December as alternative investments, suggesting an investigation into whether part of these funds could support education, healthcare, skills development, and job creation.
She emphasized that digital currencies must support development while ensuring financial stability, recommending development organizations test cryptocurrency funds under strict regulation. Additionally, she highlighted blockchain's transparency as beneficial for strengthening accountability and curbing corruption, urging the United Nations Development Programme (UNDP) to assist countries in establishing CBDC regulatory frameworks. However, she acknowledged uncertainties regarding the application of digital currencies in sovereign bonds and debt restructuring, with volatility remaining a major barrier to large-scale institutional investment.
