Geldzug: WHAT ARE CENTRAL BANK DIGITAL CURRENCIES?
18 June 2021 Central bank digital currencies (CBDCs) are already operating in the Bahamas and being trialled in China. They will be introduced by many countries over the next five years. CBDCs enjoy the crucial advantage of total security, because a central bank can’t go broke. But, in order to achieve broad acceptance, CBDCs also need to be cheaper or faster or more efficient or more private or more convenient than the alternatives. CBDCs differ from other cashless payment instruments such as credit transfers, direct debit, stablecoins, or cryptocurrencies, because they are “government money”, being direct liabilities of the central [...]