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What are Central bank digital currencies (CBDCs)? | World Economic Forum Central bank digital currencies (CBDCs) are a kind of digital money issued by a central bank, but are not cryptocurrency and would not replace cash CBDCs offer potential benefits for financial inclusion, but there are concerns that need to be considered, as the World Economic Forum’s Digital Currency Governance Consortium White Paper Series points out Governments and central banks need to
What are central bank digital currencies? - The World Economic Forum What is a central bank digital currency? Digital currency is simply electronic, rather than physical, money Central bank digital currencies are digital versions of a country’s physical currency – for example, a digital dollar, euro, pound or yuan
How are CBDCs different from cryptocurrencies and stablecoins? Rising numbers of countries are considering central bank digital currencies (CBDCs), but how are they different from cryptocurrencies and stablecoins? The main difference between CBDCs and cryptocurrencies is that CBDCs are issued and backed by a central bank, giving consumers guaranteed protection, although some concerns remain around data protection and online privacy The reasons countries
Central Bank Digital Currency Global Interoperability Principles The exploration of central bank digital currencies (CBDC) has gained significant momentum worldwide This report analyses CBDCs from a regional perspective, identifying unique aspects and areas of alignment among jurisdictions It highlights key principles that can serve as a basis for interoperable CBDC design, including trust, financial inclusion, payment efficiency, regulatory compliance
How central banks can use blockchain responsibly We are now helping central banks build, pilot and scale innovative policy frameworks for guiding the implementation of the blockchain, with a focus on central bank digital currencies (CBDCs) Blockchain has widespread implications for the financial and monetary systems of tomorrow, but decisions about its use require input from multiple sectors in order to realize the technology’s full
EU unveils plans for digital euro, promising complete privacy The European Commission has paved the way for the introduction of a digital euro A total of 130 countries, representing 98% of global GDP are currently exploring central bank digital currencies A global set of standards will help govern and streamline transactions worldwide as central banks prepare to launch digital currencies, the World Economic Forum says
4 key cybersecurity threats to new central bank digital currencies The new central bank digital currencies have cyber security threats The emerging wave of CBDCs won't be successful in transforming finance without identifying how cybercriminals will seek to exploit them