Reserve banks all around the globe have been hard at work in perfecting their own central bank digital currency (CBDC), but the title of who will be the first one to issue and implement an official CBDC is still up for grabs. In its analysis report, Bank of International Settlements (BIS) indicated that countries with better digitized and innovative economies have the upper hand on their counterparts in transitioning smoothly and quickly to digital asset payments. Countries with more developed economic climates are better equipped for the integration of CBDCs in their traditional financial institutions.
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