According to a new report published by the Bank for International Settlements (BIS), central bank digital currency (CBDC) research is on the rise. “Some 70% of respondents are currently (or will soon be) engaged in CBDC work”, claims the Swiss organization, whose survey included 63 banks worldwide.
Still, the number does not necessarily mean we should expect a preponderance to issue digital currencies anytime soon—only a few of the central banks have shown firm intentions to issue a CBDC within the next decade.
Despite a 15 per cent increase in the CBDC engagement over 2017, much of the conducted research is purely analytical, and will not be concluded with issuance plans. Only five of the studied banks, including Sweden’s Riksbank and Uruguay’s central bank, have moved their CBDC projects past the research stages, BIS reports.