About one -third central banks have delayed CBDC rollouts, but 75% are still planning to release one, found in a survey.
A new survey of the forum of official monetary and financial institutions and a new survey of the Giskek+Divint suggests that 67% of the central banks have not changed their stand on CBDCs, even about 30% have pushed back their deadline. But some hesitation is growing as15%, now in 2022, one is less keen to release one from 0%, Reuters Note,
The survey highlighted the “clear hesitation around the subject”, saying that “very few (central banks) have decided to release so far, despite a very searching work.”
Privacy is a major concern. Critics argue that CBDC governments can be allowed to monitor the transactions. The pushback rose after President Donald Trump banned a digital dollar in January. Again again on February 11, Fed Chair Jerome Powell DoubledConfirming that as long as he is in charge, there will be no CBDC. Nevertheless, for those who are still moving forward, “protecting the central bank monetary sovereignty” is a major inspiration, it is written in the report.
“CBDCs have significant ability to pursue digital economy. By offering a public infrastructure, the central bank can pave the way for new financial products and services, reducing fragmentation in the financial system. ,
G+de currency technology chief executive Volfram Cedman
However, adoption remains an issue. In places like Jamaica, Nigeria and China, CBDC has fought to achieve traction. The survey found that for 55% emerging market central banks, lower user adoption is the greatest concern.
In September 2024, the US -based Atlantic Council Think Tank reported that 134 countries were somehow looking at CBDCs, above 35 in May 2020. More than 65 countries including India, Australia and Brazil are later. The phase, whether it is developing, testing, or already rolling them. According to the report, each G20 nation is now searching for CBDC, and 19 are in advanced stages.
