A brand new survey from the Financial institution for Worldwide Settlements (BIS) suggests that almost all central banks are actually exploring the potential for issuing their very own digital currencies (CBDCs).
The BIS surveyed 86 completely different central banks, with 94% of the respondents noting that they had been concerned in some type of CBDC work final yr.
The central financial institution umbrella group notes that almost all respondents had been engaged on each retail and wholesale CBDCs, that are restricted to giant transactions between monetary establishments.
The BIS additionally says the survey signifies that it’s extra doubtless central banks will problem wholesale CBDCs within the subsequent six years than their retail counterparts.
“Primarily based on the variety of central banks that indicated that they might be very prone to begin issuing a CBDC over the following few years, there could possibly be six extra retail and 9 wholesale CBDCs publicly circulating in direction of the tip of this decade.”
The BIS survey outcomes are just like the numbers reported by the World Financial Discussion board (WEF) in April.
The WEF, a Switzerland-based worldwide group centered on public-private cooperation, famous that greater than 98% of the world’s central banks are “researching, experimenting, piloting or deploying” CBDCs.
The WEF additionally predicted that there could possibly be 24 stay CBDCs by 2030.
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