Digital Currency News

Central Bank Digital Currencies (CBDCs) are moving to centre stage as increasing numbers of central banks study and work on them, even launch them. The term CBDC can mean different things to different people – wholesale, retail, general, synthetic etc. And how do they fit in with cash, faster payments, Real Time Gross Settlement, private money or crypto currencies? Part of the story is about policy, the ‘business case’, part legal and governance and part technical. With the rationale behind them unique to each country, the Bahamas has not launched its Sand Dollar for the same reason as China’s e-yuan project, and with developments moving so fast, this is not an easy area to understand or to keep up with.

For many years Currency News has helped central bankers and cash cycle stakeholders understand and keep up with all matters cash. Our goal with ‘Digital Currency News’ is to do the same for CBDCs. Inevitably this will overlap with the alternatives whether private money from commercial banks and payment service providers (PSPs) or stablecoins and other crypto currencies, but the main focus will be on retail and wholesale CBDCs. We will monitor and summarise the key working papers and reports and lead press stories. We will cover policy, legal and technical issues and related events and activities. We will welcome debate, discussion and questions.

To help launch Digital Currency News, we start with four documents that tell the story of CBDCs by the Bank of Canada, World Economic Forum, Bank for International Settlements and a sceptics view from VOX EU CEPR. We also include our first attempt at a CBDC glossary of terms. We are very happy to amend this and add terms, so feel free to email us with your comments and suggestions!

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