{"id":10036,"date":"2021-07-25T15:54:11","date_gmt":"2021-07-25T15:54:11","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/81-countries-are-now-exploring-central-bank-digital-currencies-5-cbdcs-fully-launched\/"},"modified":"2021-07-25T15:54:11","modified_gmt":"2021-07-25T15:54:11","slug":"81-countries-are-now-exploring-central-bank-digital-currencies-5-cbdcs-fully-launched","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/81-countries-are-now-exploring-central-bank-digital-currencies-5-cbdcs-fully-launched\/","title":{"rendered":"81 Countries Are Now Exploring Central Bank Digital Currencies \u2014 5 CBDCs Fully Launched"},"content":{"rendered":"

Eighty-one countries are now exploring central bank digital currencies (CBDCs), according to a new tracker. This number is 46 more countries than the number in May last year. In addition, five countries have fully launched their own digital currencies.<\/strong><\/p>\n

81 Central Banks Explore Launching Own Digital Currencies<\/h2>\n

The Atlantic Council\u2019s Geoeconomics Center unveiled a new central bank digital currency (CBDC) tracker<\/a> featuring an interactive database last week.<\/p>\n

The Geoeconomics Center described itself as \u201ca nonpartisan organization that galvanizes U.S. leadership and engagement in the world, in partnership with allies and partners, to shape solutions to global challenges,\u201d its website states.<\/p>\n

The original version of the CBDC tracker, launched in April last year, has been used by the U.S. Federal Reserve and the Bank of International Settlements (BIS), the center claims, adding that according to the new tracker:<\/p>\n

81 countries (representing over 90 percent of global GDP) are now exploring a CBDC. In our original report published in May 2020, only 35 countries were considering a CBDC.<\/p>\n

The center noted that \u201cOf the countries with the 4 largest central banks (the U.S. Federal Reserve, the European Central Bank, the Bank of Japan, and the Bank of England), the United States is furthest behind\u201d in developing a state-backed digital currency.<\/p>\n

Federal Reserve Chairman Jerome Powell said in February that the digital dollar was a \u201cvery high priority<\/a>\u201d for the Fed. However, he emphasized the need to \u201cget it right,\u201d instead of rushing to launch a digital dollar, particularly to compete with China\u2019s digital yuan. Nonetheless, the chairman recently said<\/a>, \u201cyou wouldn\u2019t need stablecoins, you wouldn\u2019t need cryptocurrencies if you had a digital U.S. currency. I think that\u2019s one of the stronger arguments in its favor.\u201d<\/p>\n

Meanwhile, \u201c5 countries have now fully launched a digital currency,\u201d the Geoeconomics Center added. They are the Bahamas, Saint Kitts and Nevis, Antigua and Barbuda, Saint Lucia, and Grenada.<\/p>\n

World map of central bank digital currencies. Source: Atlantic Council\u2019s Geoeconomics Center. <\/p>\n

The center further detailed that \u201c14 other countries, including major economies like Sweden and South Korea, are now in the pilot stage with their CBDCs and preparing a possible full launch.\u201d<\/p>\n

Josh Lipsky, Director of the Geoeconomics Center and former senior advisor at the International Monetary Fund (IMF), commented:<\/p>\n

Before Covid, central bank digital currencies were largely a theoretical exercise. But with the need to distribute unprecedented monetary and fiscal stimulus around the world, combined with the rise of cryptocurrencies, central banks have quickly realized they cannot let the evolution of money pass them by.<\/p>\n

What do you think about 81 central banks exploring their own digital currencies? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nRegulation, CBDC, central bank digital currencies, central bank digital currency, countries, Digital Currencies, Digital Dollar, Digital Yuan, Federal Reserve<\/p>\n","protected":false},"excerpt":{"rendered":"

Eighty-one countries are now exploring central bank digital currencies (CBDCs), according to a new tracker. This number is 46 more countries than the number in May last year. In addition, five countries have fully launched their own digital currencies. 81 Central Banks Explore Launching Own Digital Currencies The Atlantic Council\u2019s Geoeconomics Center unveiled a new…<\/p>\n","protected":false},"author":0,"featured_media":10037,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-10036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10036"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=10036"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10036\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/10037"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=10036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=10036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=10036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}