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 of issuing their very own digital currencies (CBDCs).
The BIS surveyed 86 completely different central banks, with 94% of the respondents noting that they have been concerned in some type of CBDC work final 12 months.
The central financial institution umbrella group notes that the majority respondents have been engaged on each retail and wholesale CBDCs, that are restricted to massive 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.
“Based mostly on the variety of central banks that indicated that they might be very more likely to begin issuing a CBDC over the following few years, there may very well be six further retail and 9 wholesale CBDCs publicly circulating in the direction of the top 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 may very well be 24 dwell CBDCs by 2030.
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