At least 93 percent of central banks are already researching the implementation of central bank digital currencies (CBCD), according to a recent survey. Twenty-four central banks in emerging and in advanced economies are expected to have digital currencies in circulation by 2030, the Bank for International Settlements (BIS) said in a survey published on July…
Central Banks Are Increasingly Interested in CBDCs, Says BIS Survey
July 12, 2023
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Central Bank Digital Currencies Could Bring Hyperinflation
Commentary There are many excuses often used to explain inflation. However, the fact is that there’s no such thing as “cost-push inflation” or “commodity inflation.” Inflation isn’t an increase in prices; it’s the destruction of the purchasing power of the currency. Cost-push inflation is more units of currency going to relatively scarce real assets. The…
Digital Currency Launch in Nigeria Matters for Rest of the World: Investigative Journalist
Major central banks have been watching how Nigeria’s new central bank digital currency has fared since its launch a year ago as they prepare to introduce digital currencies in their own countries, said Nick Corbishley, investigative journalist and author. The current push for centralized digital currencies was made feasible through digital identity technology that enabled…
The Case for Central Bank Digital Currencies
August 22, 2022
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As the world becomes more digitized and technologically advanced, our monetary system has yet to fully keep up. Money in many ways has already been digitized, with online banking and through online payment platforms, but central banks are pushing to move toward a currency that allows for full control and much more convenience through what…
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