To avoid stereotypes, KBC cited Central Bank Digital Currencies, a sort of digital asset supported by banks and functioning like fiat money, as comparative examples of the essence of KBC Coin.Īs of now, KBC Coin isn’t accessible to general society yet, however it is in beta through a private environment.
Another slope is to pay out some of the bonuses decided by the government for their staff via the KBC Coin. For example, it could pay for the franchise after an accident with the KBC Coin or buy travel insurance. The coin can serve to reward the loyalty of the customers. So it’s not a currency like a euro that permits you to go around the world and make payments everywhere. This coin can at first be acquired by faithful clients and spent on additional services. For example, the bank itself refers to virtual currencies supported by a central bank. However, the bank cleared that these are not bitcoins or related volatile coins.
KBC likewise centers on the mechanical and security issues of its digital money.
The bank wants to build a platform that gives the customer full control over their identity. KBC Coin, the bank’s local digital currency, will be a sort of remunerations token that will permit the bank to foster client commitment techniques, advance its foundation, and power clients to acknowledge its administrations. KBC Bank Belgium, a universal multi-channel bank insurer, plans to launch its digital currency, “KBC Coin.”