Banks of International Settlements (BIS) Projects That There Will 24 Central Bank Digital Currencies (CBDCs) by 2030
Jose Nino
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Per a survey by the Bank for International Settlements (BIS), 93% of central banks are already investigating the use of central bank digital currencies (CBDCs). In addition, the BIS projects that there could be up to 15 retail and 9 wholesale CBDCs in circulation by 2030.
The survey was published on July 10 and it polled 86 central banks from October to December 2022. It asked these central banks whether they were working on a retail, wholesale or both kinds of CBDC, how much progress this work has made on the CBDC front, and their motivations for looking into CBDCs.
Per the survey, over half of the central banks worldwide are carrying out experiments or working on CBDC pilot programs. Nearly 25% of all central banks are already launching their own retail CBDC pilot projects, and the number of wholesale CBDCs in the works is considerably lower.
Emerging markets and developing economies tend to be the nations leading the way with CBDC adoption. The percentage of these nations piloting the retail (29%) and wholesale (16%) CBDCs is nearly double that of advanced economies, which hovers around 18% and 10%, respectively.
Both developing and advanced economies principally share the same motivation behind their CBDC pilot programs — financial stability and more efficient cross-border payments. That said, developing nations are more often motivated by financial inclusion motives for CBDC adoption.
Indeed, CBDCs are the latest technocratic project that globalist elites want to subject the entire world to. They will allow for governments to aggressively surveil individual transactions while also giving them the ability to more easily debank private citizens who act out of line.Â
Such projects should be categorically rejected by nationalists. Instead, we should embrace a system of competing currencies that is free of central bank interventionism.
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