Why Are 80% of Central Banks Looking into Digital Currencies?

February 6, 2020

 

 

In 2019, 80% of central banks were engaged in work related to central bank digital currency (CBDC), compared with 70% the previous year. Amongst these, 40% had progressed from conceptual research to experiments or proofs-of-concept, and 10% had developed pilot programs, according to a new survey by the Bank for International Settlements (BIS).

 

The study, which was carried out in the latter part of 2019 and included participation from 66 central banks, found that monetary authorities around the world continued to work on CBDC in 2019 with some accelerating deployment.