The Global Progress of Central Bank Digital Currencies

💡130 countries, representing 98% of global GDP, are exploring Central Bank Digital Currencies (CBDCs).

💰Major advancements in CBDC developments have been made in Europe, China, Australia, Brazil, Argentina, India, and Russia.

🌐Pilot programs for both wholesale and retail CBDCs are being launched worldwide, marking significant progress towards implementation.

🇺🇸The United States has seen recent developments, including bills being introduced to ban CBDCs.

❓The future of CBDCs remains uncertain, with strong opinions on both sides of the debate.

How many countries are exploring CBDCs?

—Currently, 130 countries are exploring Central Bank Digital Currencies (CBDCs), which represents 98% of global GDP.

Which regions have made significant advancements in CBDC developments?

—Europe, China, Australia, Brazil, Argentina, India, and Russia have made significant advancements in Central Bank Digital Currency (CBDC) developments.

What types of CBDCs are being developed?

—Both wholesale and retail CBDCs are being developed. Wholesale CBDCs are designed for large commercial transactions or settlements between states, while retail CBDCs are for average consumers.

What is the status of CBDC developments in the United States?

—In the United States, bills have been introduced to ban the implementation of CBDCs.

What is the future of CBDCs?

—The future of CBDCs remains uncertain, with strong opinions on both sides of the debate. While significant progress has been made globally, the implementation of CBDCs is still speculative.

00:04Significant progress has been made in the research and development of Central Bank Digital Currencies (CBDCs) worldwide.

00:40130 countries, representing 98% of global GDP, are currently exploring CBDCs.

01:01Europe, China, Australia, Brazil, Argentina, India, and Russia have made major advancements in CBDC developments.

01:59Europe is creating incentives for banks and payment processors to distribute the digital Euro.

03:32Argentina is working on the legal framework for the CBDC project in pesos.

04:06Australia has successfully concluded a CBDC blockchain pilot program.

05:19Brazil is planning to launch the pilot phase of the digital real in May.

06:29South Korea is developing both wholesale and retail CBDCs simultaneously.