PwC publishes global report on CBDC

Recently the multinational, PriceWaterhouseCoopers, has published its first edition of the “PwC Global CBDC Index", In which they have carried out an analysis that allows monitoring the ongoing transformation that various governments have been adopting with respect to central bank digital currencies (CBDC) with the aim that they modernize the international monetary landscape and reconfigure the financial infrastructure and of payments.

Within the data provided by the aforementioned study, it is noted that to date, there are more than 60 central banks that have been exploring CBDCs since 2014, however, progress has been accelerating in several projects that are already in the phase of implementation. Likewise, the study reveals that two types of CBDC operational designs have been working mainly: 1) With wholesale applications, where these are in the hands of citizens and companies as a form of digital cash, and 2) With interbank applications , where the use of the CBDC is restricted to financial institutions, which limits it to interbank transactions and financial settlement.

In addition, the aforementioned study reveals that 88% of CBDC projects, in the pilot phase or in the production phase, use blockchain as the underlying technology, since it has various characteristics that are quite adaptable for the development of CBDCs, such as are CBDC-compliant smart contract programmability, transparent audit trails, configurable confidentiality features, and increased interoperability with other digital assets.

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Carlo palomino
Bachelor from the National University of San Marcos (UNMSM). With interest in Digital Law and New Technologies. I endorse the phrase: "Knowledge is useful as it is shared." Contact: carlo.palomino19@gmail.com

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