The European Research Center focusing on fintech research and dGen has published a study on the potential impact of central bank digital currencies.
By looking at the history of the most used paper currencies today, we find both:
Dollar, Euro and Chinese Yuan.
The report explained that the next logical step in the development of these currencies is by issuing them in digital form.
Without disclosing the specific countries, the report expects at least three countries to fully exchange their currencies for binary digital currencies within ten years.
However, dGen highlighted a few countries actively progressing towards issuing a digital currency.
China is among the countries that are moving rapidly towards adopting the digital currency for the central bank, at least based on the numerous reports that appear frequently, which tell that the most populated country in the world is close to launching the yuan digital currency.
It seems that the Swedish Central Bank’s digital currency is also close to launch, as the European country began a series of experiments to test the “digital krona” currency in early 2020.
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