105 Countries Are Exploring Central Bank Digital Currencies, CBDC Tracker Shows – Regulation Bitcoin News
There are actually 105 international locations which are exploring central financial institution digital currencies (CBDCs). Amongst them, 50 international locations are in a sophisticated section of digital foreign money exploration (growth, pilot, or launch).
105 Nations Are Exploring CBDCs
The Atlantic Council’s Geoeconomic Centre has launched a significant replace to its Central Financial institution Digital Foreign money (CBDC) Tracker. Based on the tracker:
105 international locations, representing over 95 p.c of world GDP, are exploring a CBDC … A brand new excessive of fifty international locations are in a sophisticated section of exploration (growth, pilot, or launch).
Moreover, the tracker particulars that “10 international locations have absolutely launched a digital foreign money, with China’s pilot set to broaden in 2023.”
Among the many G20 international locations, 19 are exploring a CBDC, with 16 already within the growth or pilot stage. They embody South Korea, Japan, India, and Russia.
Final month, the Financial institution of Worldwide Settlements (BIS) launched a report stating that 9 out of 10 central banks globally are exploring CBDCs. The BIS mentioned, “the emergence of stablecoins and different cryptocurrencies have accelerated the work on CBDCs.”
Some international locations are additional forward than others, resembling China. The Chinese language central financial institution, the Individuals’s Financial institution of China (PBOC), has been actively testing and giving freely its digital yuan.
India can also be actively engaged on its digital rupee. The Indian central financial institution, the Reserve Financial institution of India (RBI), mentioned it can take a “graded method” to launching a CBDC. The central financial institution is anticipated to introduce the digital foreign money this monetary 12 months. This week, an RBI official acknowledged that CBDCs might kill cryptocurrencies like bitcoin and ether.
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