CBDC needs good preparation, warn central bankers
Policy-makers should identify a clear need and use for central bank digital currencies (CBDCs) before launching them, the Central Banking Spring Meetings were told.
Panellists saw considerable promise in CBDCs, but said they will need considerable pre-launch work on infrastructure development, research and public engagement.
An official from a southern African central bank said she believed CBDC “technology needs to mature”. She recounted technical difficulties suffered by CBDCs in Nigeria
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on CBDC
Islamic banking most at risk of negative CBDC effects
IMF paper highlights risk of unremunerated and small retail deposits
Swift completes cross-border CBDC settlement pilot
Banque de France, Bundesbank and the MAS among central bank participants
BIS Project Icebreaker proposes cross-border retail CBDC model
Central banks used smart contracts and worked with FX providers to cut costs and risk
RBA official raises concerns over CBDC
Central bank proceeding with pilot despite potential drawbacks
Agent-based models shed light on CBDC dynamics
Take-up could be as high as 25% of total money, but depends on design choices, IMF research finds
Digital pound unlikely to be monetary policy tool – Cunliffe
Deputy governor says effect of paying interest unclear and could clash with other objectives
Carstens sets out vision for future monetary system
Programmable money on shared ledger would preserve two-tiered structure
Russia to launch CBDC pilot in April
Central bank exploring cross-border functionality to evade sanctions