Taking The Central Stage

The CBDC landscape:

The evolution of digital money is taking hold, as policymakers and central bankers explore the idea of government-backed assets on blockchain called Central Bank Digital Currency, or CBDCs. More than 90 countries are either researching or developing CBDCs. Many see the direct advantages for their citizens and economies: decreased dependence on cash, less friction in international payment channels to better financial access, and programmability options. CBDC design presents a myriad of decisions and challenges that policymakers need to weigh as they chart their course for the digitization of money — decisions that will shape the future global financial system. 

The policymaker’s guide:

Stellar Development Foundation (SDF), a non-profit organization that supports use of the Stellar network, has developed a comprehensive guide for policymakers to consider technology options for CBDCs. Authored by a cross-functional team at SDF with input from external resources such as the World Bank and Alliance for Financial Inclusion, the guide is titled “Understanding CBDCs: a guidebook for regulators and policymakers.”

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