A brand new survey from the Financial institution for Worldwide Settlements (BIS) suggests that the majority central banks at the moment are exploring the potential for issuing their very own digital currencies (CBDCs).
The BIS surveyed 86 totally 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 the majority 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 seemingly central banks will situation wholesale CBDCs within the subsequent six years than their retail counterparts.
“Primarily based on the variety of central banks that indicated that they’d be very prone to begin issuing a CBDC over the subsequent few years, there may very well be six further retail and 9 wholesale CBDCs publicly circulating in the 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 targeted 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 may very well be 24 dwell CBDCs by 2030.
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