Global CBDC Update

Well, I have to be honest, we are not doing enough to get the word out on CBDCs.

New data points from "The Atlantic Council" that 134 countries are currently exploring CBDC's. So out of the 193 countries worldwide, 134 are seeking CBDCs. If my third grade math is correct that is 70% of the globe are moving towards CBDCs. Recall,  CBDC is a Central bank digital currency. 

Let's dive into these numbers more

• Every G20 nation is of course going head first into CBDCs.  Breaking this down it shows that 19 are in the advanced stages of development
• 66 nations are already in 'development stages' which covers the following: development, pilot and launch phases.
• Three (3) countries have fully launched their CBDCs. Those countries are:  Bahamas, Jamaica, and Nigeria. 
• Japan and the USA are said to be lagging; WooHoo. And the are several members of Congress putting together Bills to prevent US from participating in a CBDC system. 
• So from a GDP summary stand point that equates to and 98% of global GDP nations are on track for a CBDC.

So, what is The Atlantic Council?

It is an American thinktank founded in 1961 in the field of international affairs. I had not heard of it prior to this article and still not sure what the overall goals are.  For some reason, they are tracking CBDC's and perhaps you should be too?

Going back over my writings on CBDC's I am amazed at how many times I have written about this topic and yet here we are with 70% of world moving in that direction.  

• SWIFT the Global Payment Giant Unveils Plan to Integrate Digital Assets and Currencies - Sept. '24
• US Treasury Recommends Exploring Creation of a Digital Dollar - Sept. '22
• U.S. Immigration and Customs Enforcement (ICE) agency tracking Bitcoin transactions - July '22 - not directly CBDC blog but part of the over arching system of tracking and control.
• DAVOS plan leak - CDBC to replace SWIFT in under 5-years - May '22
• Bank for International Settlements (BIS) has developed two prototypes for a shared CBDC platform - Apr. '22
• Massachusetts Institute of Technology (MIT) Helping US Fed develop CBDC - March '22
• US Fed Released Report on CBDC - Jan. '22
• Global Governments diverge on Crypto Plans - Nov. '21
• US House hearing reveals bipartisan support for a government-backed Digital Dollar - Jun. '21
• Earth's first Country has adopted BTC - Jun. '21 - again not really CBDC related but they will save $ not reinventing the wheel!
• What happens when CBDCs are launched in the BTC and Crypto asset realm? - Mar. '21
• Gov of Ukraine Picks Stellar to Help Build National Digital Currency - Jan. '21
• Reasons why CBDC are a BAD idea - Dec. '20
• Bank of Canada "CBDC, might see the light of the day sooner than expected." - Dec. '20
• Central Bank Digital Currency which Western Nation will lead? - Oct. '20

Summary

As you can see I don't have an opinion on CBDC's, nope, none at all. Nor do any of the other writers here on Pub0x.  Nothing to see here, everything is just fine, move along. 

Credit - Blog image news.bitcoin.com - all rights remain