In only a few years, central bank digital currencies (CBDC) have gone from a fringe idea promoted by cryptocurrency bloggers to an idea now seriously explored by 80% of the world’s major central banks, including the People’s Bank of China and the United States Federal Reserve. This paper...

Exploring the possibility of a Central Bank Digital Currency (CBDC) has been a high priority for numerous countries over the last few years. A CBDC seems to be the next development in the global currency regime, with many countries already using or piloting a CBDC program. The United States and...