70% of Central Banks are Working on Digital Currencies, No Hurry to Issue Them: BIS

A survey commissioned by the bank of central banks, the Bank of International Settlements, has disclosed that even though Central Bank Digital Currencies (CBDC) are being researched by a big number of reserve banks, the work is mostly conceptual. Consequently, only a handful of them have any intentions of issuing a CBDC in the near future: The survey finds that a wide variety of motivations is driving an increasing number of central banks to conduct conceptual research on CBDCs. However, only a few central banks have firm intentions to issue a CBDC within the next decade. Global central bank survey shows that #DigitalCurrencies – in whatever form – are unlikely to be issued widely any time soon #CBDC https://t.co/5uVVCwiEeY pic.twitter.com/N3hEYVTXhZ — Bank for International Settlements (@BIS_org) January 8, 2019 Per the survey which was conducted in 2018, about 70% of the central banks indicated that they are already engaged in…

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