Latest Work on CBDCs

Central banks making statements about investigating or working on Central Bank Digital Currencies (CBDCs) this month include Brazil, Georgia, Japan, Kazakhstan, Norway, Pakistan and Russia.

Digital Dollar Project Launched

A not-for-profit ‘Digital Dollar Project’ has been set up in the US with the aim of setting standards for a future CBDC to ‘balance the complex issues of a CBDC and how to incorporate key societal values, like privacy rights, financial inclusion and rule of law’, according to Chris Giancarlo, who is one of the founders of the project.

The project will run five pilot programmes over the next year to explore different designs and user cases for a possible retail and wholesale CBDC.

The Digital Dollar Foundation is working in partnership with Accenture, who is funding the first phase, and intends to match the funds necessary to launch the first five pilot programmes.