Central bank digital currencies (CBDC) are becoming popular among countries. According to the Atlantic Council’s CBDC tracker, 105 countries, representing 95 percent of the world’s GDP, are developing digital versions of their national currency. Eighty-one countries were exploring the use of CBDCs in their economy last August. CBDC development accelerated in the aftermath of Russia’s invasion of Ukraine. International payment networks like SWIFT reacted swiftly … Continue reading Notes 10/4: CBDC Development, An Opening for Crypto?
There goes the dream of decentralization. Bitcoin enthusiasts have railed against central banks since the cryptocurrency was introduced to the world in the aftermath of a global financial crisis, widely blamed on central bank policymaking. But digital currencies issued by central banks, also known as Central Bank Digital Currencies (CBDCs), are at the center of a future monetary system in a report released by the … Continue reading CBDCs Will Drive The Future Monetary System: BIS Report