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CBDCs Around the Globe: Scenarios, Experiments, and Implementation Endeavors
Abstract
CBDCs have taken center stage in the digital finance arena, as central banks worldwide explore the advantages and challenges they present. The number of CBDC projects has increased significantly over the past few years, encompassing 131 countries that collectively represent 98% of the global economy. This chapter delves into the dynamic landscape of CBDCs worldwide, exploring various scenarios, ongoing experiments, and implementation efforts. The research sheds light on the motivations behind CBDC initiatives, examines the practical experiments conducted by central banks (from launched to pilot and developing programs), and explores cross-border projects and collaborations. Through a comparative analysis of various approaches to CBDCs, the chapter uncovers a nuanced narrative of economic, social, and political factors that influence the design and deployment of CBDCs. This chapter offers a comprehensive overview of the CBDCs landscape, assisting policymakers, financial institutions, and the general public in understanding the potential future of digital currencies.
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