Around 100 countries are now exploring the potential development and issuance of a central bank digital currency (CBDC), and the challenges and opportunities identified by these research projects reveal a need for “increased international information-sharing of insights learned”, according to an International Monetary Fund (IMF) report.
‘Behind the Scenes of Central Bank Digital Currency: Emerging Trends, Insights and Policy Lessons’ focuses on six CBDC projects at different stages of development and lays out key similarities and differences in relation to overall policy goals, operating models, design features and technology, legal considerations and project implementation.
The research examines projects where a CBDC has already either been launched or is being piloted with the general public — the Bahaman Sand Dollar, the East Caribbean DCash and China’s digital yuan — as well as those at an earlier stage of testing or development such as those initiated by Sweden’s Riksbank, the Central Bank of Uruguay and the Bank of Canada.
Source: NFC World