The adoption of central bank digital currency (CBDC) is proving to be just as challenging, if not more so, than its technological development. As well as legal hurdles – and the challenges in convincing politicians around the world of their utility and to invest taxpayers’ money – banks, merchants and the public must also be persuaded to use CBDC in their daily transactions. 

At a time when central banks’ monetary sovereignty is being increasingly challenged by new forms of private money