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A central bank digital currency (CBDC) is a digital form of a country’s resp. economic area’s fiat currency which is backed by the government and is issued by a central…
Central bank digital currencies (CBDCs) have rapidly gained attention in recent months among central banks worldwide in the last few months, with 18 nations reported to have launched or piloted a retail CBDC by mid-January this year and many more publishing papers for discussion.
CBDCs are intended to be fiat currency – that is, a direct liability of the central bank – and this characteristics raises a range of issues. What are these, in particular, in the jurisdictions of Singapore, Hong Kong, China and India?