Published date : 17 July 2023

These Countries are hot for CBDCs

The emergence of CBDCs as a prominent use case of blockchain technology has garnered significant attention from governments worldwide. Many central banks are actively researching or piloting CBDC projects. CBDCs offer several potential benefits, such as facilitating faster and cheaper cross-border transactions, improving financial inclusion, and enabling more efficient monetary policy implementation. According to the Atlantic Council, there are 114 countries, representing over 95 percent of global GDP, that are exploring the implementation of CBDC today. This is in stark contrast to three years ago in May 2020, when only 35 countries were considering a CBDC”.

However, it is worth mentioning that not all CBDC projects are planning to use Distributed Ledger Technology (DLT) (i.e. blockchain technology). Out of the 114 countries looking into CBDCs, there are only 32 countries that are either in development, pilot or launched phase that are planning for using a blockchain.

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