This afternoon, we’re going to take up a topic that everybody seems to be talking about these days – namely, central bank digital currency (CBDC). This is a “widely accessible, digital form of fiat money that can be legal tender,” and a recent BIS survey of central banks shows that 80 per cent were exploring CBDC. I’ll start by laying out what I see as some of the main pros and cons of CBDC, as well as their international implications. I’ll say a few words about a few recent pilot experiences with these currencies, and also about some variants and alternatives to CBDCs.
Read more: https://www.thisdaylive.com/index.php/2020/03/30/central-banks-and-digital-currency/
