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    According to research, most of the central banks are planning for a CBDC

    In research conducted by the accounting firm PwC, more than 80 percent of different countries’ central banks are thinking of launching a central bank cryptocurrency or have already done the same.

    On Monday, April 4, the second annual Global CBDC Index report was released, which measured the maturity of a central bank in deploying its own digital currency. Also, for the first time, the report included an overview of stablecoins. According to Haydn Jones, the blockchain and cryptocurrency specialist in PwC U. K. has said that the report suggests most of the central banks are considering the launch of CBDC or have already completed the whole process.

    The report has also ranked both kinds of CBDC (one issued by the general public and the other one issued by the financial authorities backed by a central bank) out of 100. Moreover, the report says that the retail version of CBDC has reached a better level of growth than its wholesale counterpart, which is offered by financial institutions. For example, the ‘eNaira’ of Nigeria has received a score of 95 and has excelled in both retail and wholesale categories.

    The retail category also has the Sand Dollar, which was the first-ever retail CBDC launched by the Bahamas. Jamaica will also launch its Jam-Dex this year, and Thailand has also announced the development of its CBDC in August last year.

     

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