- Washington-based company provides massive overview of CBDC
- They believe the world is on the verge of a monetary revolution
- Blockchain will rule finance instead of paper money
The Atlantic Council think tank provides massive report on CBDC. It shows that almost all countries have stepped up efforts to create CBDC (central bank digital currencies) systems. And some of them have almost completed the work.
According to the Atlantic Council, 130 countries are considering implementing CBDC. Together, these countries produce 98% of the world’s GDP. That’s a huge increase from May 2020, when only 35 countries were exploring the prospects for digital currencies.
With 64 states already in the advanced stage of CBDC. They have completed initial development, are conducting pilot tests, or have even moved on to the mass use phase.
There are 19 G20 countries among this list. The only exception is the U.S., where the implementation of retail CBDC remains in question. Especially amid protests from many states.
“Other G7 banks, including England and Japan, are developing CBDC prototypes and consulting with the public and private sectors on financial privacy. However, the U.S. is advancing on a wholesale (banking) CBDC. There are currently 12 international CBDC wholesale projects.”
It is interesting that last week, President Vladimir Zelensky introduced a bill to transition to electronic hryvnia. He plans to do away with paper money altogether.