These Are the Studies Carried Out by the Bank of the Republic So That the Peso Becomes Digital

Financial Services attorney Camilo Gantiva was cited in an article published by La República about some studies by the Bank of the Republic to analyze the use of the digital peso in Colombia. Mr. Gantiva explained that in order to achieve this, communication standards must be created so that information is easily transferable and understandable by all banks, businesses, people, the payment system and its networks. He also commented that the change would not be immediate since it implies technological development and investment in infrastructure that each of the banks must make.

"For the digital weight we would have to come to an agreement because everyone must do it the same, not for each bank to have an independent process, a standard, all entities and networks must speak the same language," he said.

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