Study suggests Canadian CBDC could promote digital innovation within the country
The Bank of Canada suggested that a Canadian CBDC could provide a number of innovations, including the elimination of transaction fees from debit and credit cards. A study released by Canada’s central bank, Banque du Canada, has noted a number of favorable reasons that the country could benefit from its own Central Bank Digital Currency, or CBDC.The document laid out two scenarios that might result in the bank issuing a CBDC at some future date. One would be if citizens were no longer widely using cash within the country for reasons that were left unspecified. The other could be if a....
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The results of a new study from the Bank of Thailand point to three key considerations for making sure a retail central bank digital currency doesn't adversely impact financial stability. The Bank of Thailand has published the results of a new study into how to manage the implications of issuing a retail central bank digital currency (CDBC) for the country’s financial sector.As distinct from a wholesale CBDC, which is limited to use by financial institutions and intermediaries, a retail CBDC is widely available for use by the general public. The Bank of Thailand, like many other central....
The central bank wants to learn from private-sector digital currencies — but still believes they are inferior to central bank money. Philippine central bank governor Benjamin Diokno has announced that the institution's "exploratory" study of central bank digital currency study suggests that much more work is needed to make a digital peso a reality.During the summer, Bangko Sentral ng Pilipinas had confirmed it was investigating the feasibility and potential policy implications of issuing its own CBDC, or digital counterpart to the physical peso.In a press briefing, Diokno reportedly....
The think tank wants to ensure the United Kingdom keeps pace with the developments in the emerging digital landscape. The Digital Pound Foundation (DPF), a group of technology, innovation, and regulatory experts, has announced its launch as an independent non-profit organization in the U.K.According to a release issued on Thursday, the DPF will work to promote the implementation of a central bank digital currency (CBDC) in the country.Indeed, as previously reported by Cointelegraph, the U.K. government in April established a CBDC task force to explore preliminary matters related to the....
The South African Reserve Bank (SARB) says it has commenced a feasibility study for a general-purpose retail central bank digital currency (CBDC). The study, which the SARB expects to conclude in 2022, will focus on the issuance of a domestic CBDC that can be used by consumers in South Africa for general retail purposes. Study to Focus on Retail CBDC In a statement released on May 25, 2021, the central bank says the feasibility study will include practical experimentation across different emerging technology platforms. The study will take into account a variety of factors, including....
The Bank of Zambia has said it expects to complete its study seeking to determine the feasibility of launching a Central Bank Digital Currency (CBDC), before the end of the last quarter of 2022.
Narrowing the Financial Exclusion Gap
The Zambian central bank has said it expects to complete a research study that explores the benefits of launching a central bank digital currency (CBDC) in Q4 of 2022. The bank, which has been weighing the pros and cons of creating a digital currency, says the findings of this study will help it to determine whether is it beneficial to launch the....