Central Bank Digital Currencies (CBDC) can improve payment systems as well as financial inclusion if they are appropriately designed, else, they could pose risks which is why many of the world’s monetary authorities are seeking more guidance on how best to pursue digital forms of central bank money.
While not all countries may see an immediate case to deploy a CBDC, many countries are exploring CBDCs so they will have the option to introduce one in the future if it becomes pertinent for them. Benefits are more likely to come in time, following the policies pursued by countries and the private sector’s response, as well as the evolution of technology.
