June 5, 2020 UN blockchain expert argues that digital currencies could make low-interest bank accounts obsolete.

Massimo Buonomo, a blockchain expert for the UN, argued in an online panel on Thursday that digital currencies, especially central bank digital currencies (CBDCs) could replace low-interest bank accounts. Buonomo argued that interest rates were the main advantage of bank accounts and that the existing low-rate environment means that accounts will likely struggle to compete with digital currencies.