According to a study by the Bank for International Settlements (BIS), at the moment, about 90% of the Central Banks of various countries of the world are researching or working on government cryptocurrencies.
AT report It is said that between October and December 2021, BIS interviewed representatives of 81 central banks. 90% of them said that their central bank is “working on a CBDC.” At the same time, 26% of the Central Bank have already launched pilot programs for state cryptocurrencies, and more than 60% are at the concept testing stage.
A year ago, in a similar study, only 83% of Central Bank representatives said they were working on national digital currencies. Analysts believe that work on government cryptocurrencies has accelerated due to the COVID-19 pandemic, as well as the growth in the adoption of cryptocurrencies and stablecoins.
“More than two-thirds of central banks believe they can issue a retail digital currency in the short to medium term. Work on CBDC is also underway in order to provide international payments. Such state cryptocurrencies will reduce the time of transfers and make them around the clock,” the researchers noted.
Earlier, BIS successfully tested the Central Bank’s experimental digital currency platform for international settlements. The central banks of Singapore, Australia, Malaysia and South Africa participated in the project.
Source: Bits
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