Nearly 30% of central banks delay CBDC plans, survey shows

Nearly a third of central banks have delayed CBDC deployments, but 75% still plan to publish one, according to a survey.

A new survey of the official forum of monetary and financial institutions and Giesecke + Devrienment show that 67% of central banks have not changed their position on CbdcsEven almost 30% pushed their deadlines. But a certain hesitation increases as15% are now less inclined to emit one, against 0% in 2022, Reuters notes.

The investigation highlights a “clear hesitation around the subject”, adding that “very little (central banks) have so far made the decision to issue, despite a lot of exploratory work”.

Confidentiality remains a great concern. Critics argue that CBDC could allow governments to keep an eye on transactions. Possorback grew up after President Donald Trump forbidden Work on a digital dollar in January. Then on February 11, the president of the Fed Jerome Powell doubleConfirming that there will be no CBDC as long as it is in charge. However, for those who are still advancing, “the preservation of monetary sovereignty of the central bank” is a key motivation, indicates the report.

“CBDC have significant potential to advance the digital economy. By offering a public infrastructure, central banks can open the way to innovative financial products and services, while reducing the fragmentation of the financial system. »»

G + D Technology Technology CEO Wolfram Seidemann

Adoption, however, remains a problem. In places like Jamaica, Nigeria and China, CBDC had trouble gaining ground. The survey revealed that for 55% of central banks in the emerging market, a low adoption of users is the greatest concern.

In September 2024, the Atlantic Council reflection group based in the United States reported that 134 countries examined CBDC in one way or another, against only 35 in May 2020. More than 65 countries, including India, Australia and Brazil, are at the later stage, whether it be , whether it is to develop, test them or deploy them already. Each G20 nation now explores a CBDC, and 19 are in advanced stages, according to the report.