CBDC is inevitable

Central bank digital currency should be thought of as a platform rather than a product, writes Dave Birch

CBDC payments

The European Central Bank (ECB) kicked off 2024 by announcing it intended to award more than a billion euros in contracts for private sector partners to help develop a digital euro. The procurement will run across five separate initiatives with half of the money going to the development of an offline solution, which is clearly critical for a mass-market alternative to physical cash. 

Manuel Klein, product manager for blockchain solutions and digital currencies at Deutsche Bank, neatly summarises

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