Published: 05.04.2022
Article reading time:
2 minutes.
More than 80% of central banks are considering launching their own digital currency, according to PwC. At the same time, Thailand, Hong Kong and Jamaica are most actively developing CBDC.
The audit company PwC has published the results of a study in which analysts measured the level of readiness of banks to deploy their own digital currencies (CBDC). The report notes that more than 80% of the Central Bank are interested in issuing their own digital currencies, or have already done so.
PwC Blockchain and Cryptocurrency Specialist Haydn Jones ranks central bank retail digital currencies issued for use by the general public and wholesale ones intended for use by financial institutions. According to him, retailers have reached a higher level of readiness for a full-fledged launch, in contrast to wholesalers. As an example, he cited the Nigerian eNaira, which scored 95 out of 100 in the study, which means that it is the most developed in both the wholesale and retail categories.
The report also notes the Central Bank of the Bahamas, which was the first to launch the Sand Dollar, the Central Bank of Jamaica, which is due to issue its digital currency this year, and the Central Bank of Thailand, which plans to test CBDC during 2022. These countries are more active than others in developing their digital currency. In addition, Thailand and Hong Kong topped the wholesale category with their cross-border payments-focused mBridge project. Also, France and Singapore received high marks for the ongoing study of digital currencies of the Central Bank.
“Countries are at different stages of readiness to launch and develop their digital currencies, and each of them has different priorities – expanding access to financial services, facilitating cross-border payments and combating financial crime. All these factors are now involved in the development of digital currencies of the Central Bank,” Jones said.
Recall that earlier, US Senator Ted Cruz introduced a bill prohibiting the Federal Reserve System from using the Central Bank’s digital currency to control private transactions of citizens.
Source: Bits
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