A new survey from the Bank for International Settlements (BIS) shows that most central banks are now exploring the possibility of issuing their own digital currencies (CBDCs).
The BIS surveyed 86 different central banks, with 94% of respondents noting that they were involved in some form of CBDC work last year.
The central bank’s umbrella organization notes that most respondents worked on both retail and wholesale CBDCs, which are limited to large transactions between financial institutions.
The BIS also says its research shows that central banks are more likely to issue wholesale CBDCs than their retail counterparts over the next six years.
“Based on the number of central banks that indicated they were very likely to issue a CBDC in the coming years, there could be six additional retail and nine wholesale CBDCs in public circulation by the end of this decade.”
The results of the BIS survey are comparable to the figures reported by the World Economic Forum (WEF) in April.
The WEF, a Switzerland-based international organization focused on public-private partnerships, noted that more than 98% of the world’s central banks are “exploring, experimenting, testing or deploying” CBDCs.
The WEF also predicted that there could be 24 live CBDCs by 2030.
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