Crypto Revolution Spurs Central Banks to Design Money’s Future

CBDCs make payment systems safer, faster, less expensive, and more dependable. Governments in developing nations can employ digital money to supplement undeveloped banking systems or enable authorities to transfer necessary funds to citizens during times of crisis quickly.

The International Monetary Fund reports that approximately 100 countries have implemented or are exploring CBDCs. Although President Joe Biden issued an executive order in March prioritizing research on a digital dollar, the US is one of several countries with an ongoing effort.

Sources

• Crypto Revolution Spurs Central Banks to Design Money’s Future | Bloomberg