Copy link
Increase text size
Decrease text size
Link copied

A number of central banks will likely issue CBDCs in the next three years, says BIS survey

The Bank of International Settlements surveyed 60 central banks on their CBDC projects.

Bank of International Settlements, Basel / Image by: Wikimedia Commons

Fri, 29 Jan 2021, 12:31 pm UTC

Most central banks are already exploring the possibility of issuing their own central bank digital currency (CBDC). In a recent report, the Bank of International Settlements (BIS) projects that a number of countries will be issuing their own digital currencies in the next three years.

The BIS recently released the result of its survey on CBDC development worldwide, according to Cointelegraph. The study, which was conducted in late 2020 and involved 60 central banks, revealed that most of the respondents are entering the “advanced stages” of engagement.

“Central banks collectively representing a fifth of the world’s population are likely to issue a general purpose CBDC in the next three years,” the BIS wrote it the report. “However, the majority of central banks remains unlikely to issue CBDC in the foreseeable future.”

Most of the surveyed central banks are weighing the pros and cons of issuing their own digital currencies. “The vast majority of central banks in the survey – 86% – are now exploring the benefits and drawbacks of CBDCs,” BIS added. “In recent months, major central banks have published a multitude of in-depth assessments of related policy issues and tested a variety of designs. 2020 also marked the arrival of a ‘live’ general purpose CBDC when the Bahamas launched its Sand Dollar for its residents on 20 October 2020.”

Around 60 percent of central banks surveyed are entering advanced stages and have progressed from conceptual research to experimentation last year, up from 42 percent in 2019, which suggests increasing interest in CBDC development. Meanwhile, 14 percent have already rolled out pilot programs for the projects.

The survey also explored the various motivations of central banks to pursue CBDC projects. Financial inclusion and payment efficiency for domestic transfers are the top factors for issuing digital currencies for monetary authorities of emerging markets and developing economies (EMDE) while central banks in advanced economies (AE) placed more emphasis on payments safety.

“Most central banks are now exploring the case for CBDCs in some way and, overall, the survey indicates a continuous move from purely conceptual research to experimentation and pilot projects,” the survey concluded. “Yet despite these developments, a widespread rollout of CBDCs still seems some way off.”

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • SusanK8t
  • 2021.02.01 23:32:10
I'm from Alaska here in the United State known as Susan and have been a victim of binary option and lot more, it all started after I lost my job at one of the chemical company in MA and I relocated with my families cause there was no need of staying back and my husband got little savings which we intend to start up something in Alaska but getting to Alaska we saw an advert online about binary option honestly I brought the idea to my husband and we both decide to invested the little with us so we could make enough profit and start-up something better but before we knew it we have our car sold out just to pay scammers and yet they never stop but always keep giving us hope and more money was been requested and this ruined my home.


My husband got pissed off and left the state to MO and I couldn't handle it anymore cause I couldn't take it when I was pleading with the neighbor for food just to feed my kids.  I was so ashamed of myself and people always asked me what is going on and i was so scared to tell them the truth about what I'm going through, i really wanted to get through it cause have spent so much on it and gave all that i had into it but it seems not to be enough until one day a friend of mine who i knew long ago decide to take me out and I didn't want to accept at first anyway i went out with her and while i was smoking and drinking i didn't know when i told her everything and she screamed and tell me to hire [email protected] that she has been a victim of it as well, i quickly emailed Wizard Harry, my message that day was really crazy, I wrote Hey magic wizard, someone is dying and need her money back from fraudsters, please don't get mad at me, i need your help. he replied me and asked me of the wallet address i sent to and that of the name of the binary option, i gave all information as requested by him and he asked me to send him my own wallet address where the money should be reversed back to and i did. Honestly, it amazed me when I got 17 bitcoins in my wallet, I thought it wasn't real but I sold some of it and I got cash and I informed my husband about it he didn't believe it until I showed him. it was really a whole lot of experience and I urge everyone to contact wizard Harry as soon as possible, he made me know that if ever I need any job that requires hacking skills he is very capable and that include, hacking of account, GPS tracker, mobile spy, compute remote tricks, clearing of record, etc. email [email protected] or WhatsApp +18078086168
  • 0
  • ·
  • 0
More
  • Bitcoin (btc) $51,652.00 (+2.75%)
  • Ethereum (eth) $1,784.30 (+7.08%)
  • Tether (usdt) $0.999906 (-0.34%)
  • Binance Coin (bnb) $235.46 (+0.02%)
  • Cardano (ada) $1.12 (-0.80%)
  • Bitcoin (btc) $51,652.00 (+2.75%)
Mar 8, 2021 (Monday)
14:36
BTC Drops by 1.13% Within 5 Mins, Marking 50,320.36 USDT
13:24
BTC Surges by 1.0% Within 5 Mins, Marking 50,888.3 USDT
10:19
Geth v1.10.1 Released
10:17
ICON (ICX) Unaffected By South Korean Tax Investigation Into ICONLOOP, Says Chairman
10:15
ETC Group To Launch Ethereum ETP On Deutsche Borse
10:00
BTC Tops List Of Crypto Net Outflow With $470.34 Mln In Past 18 Hours
09:49
Central Bank Of France Eyes XRP As Basis For Digital Euro
09:39
Art & entertainment NFT creation and trading platform Curio tweeted to reveal that all 250 editions of the Technical Boy NFT have been sold out in 5 minutes.
09:26
Decentralized lending platform Ruler Protocol announced to support flash loan.
08:52
Argo Blockchain Completes Texas Land Purchase To Build Bitcoin Mining Facility
08:50
Atari To Launch Crypto Casino In Ethereum-Based Virtual World
08:20
Peter Brandt Believes There’s 50% Chance Bitcoin Will Go To $1 Million
07:36
NFT Global Reveals That Soribada’s Corporate Crisis Has Nothing To Do With SOBA Project
07:27
OKEx Lists Velo's Native Asset, VELO, For Spot Trading
07:04
Norway's Aker ASA Sets Up Bitcoin Unit
06:21
The Number Of BTC Held On Exchanges Crashed 20% In 12 Months
06:20
If Ripple Goes Away, XRP Will Keep Trading: CEO Brad Garlinghouse
06:19
Chainlink announced that decentralized finance protocol Set Protocl has integrated with DPL/USD price feed.
06:16
PolkaFoundry To Postpone IDO Plan
06:12
UFC Announces Regional Partnerships With Top Crypto-Only Sportsbook
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft