12 Countries Are Now Considering Central Bank Digital Currencies
"Officials at central banks are considering how and whether to create a digital form of cash," reports Qz: As money gets swept up by tech innovation, government authorities are taking a closer look at old fashioned notes and coins. More than a dozen countries are either researching, piloting, or, like China, have ongoing work in place for central bank digital currencies, according to a Bank for International Settlements report published today. "Central banks around the world are investigating a rich set of prototypes," the BIS wrote... While physical cash isn't yet endangered in most places, the experience of a few countries, notably Sweden, China, and even to some extent the UK, shows that a world with much less cash usage is increasingly possible. That's why the BIS, sometimes called the central bank for central banks, published a report sketching out possible designs for a peer-to-peer central bank digital currency.
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