Central Bank Digital Currencies Gaining Status In 2023

By Aarti Dhapte , 06 July, 2023

Central Bank digital currencies (CBDC) are gaining popularity as the digital currency acting approved by the government of that respective country. It is the fiat money having a claim on the central bank. Digital currency stands for virtual money instead of printing; the central banks are issuing electronic coins sponsored and controlled by governments like traditional currencies. More than 20 countries globally are anticipated to take the lead toward handling CBDCs in 2023.

According to the findings of the Atlantic Council, the European Central Bank is all set to begin its venture for the digital euros. Bank of England and Japan are also developing their prototypes for CBDC, keeping track of financial stability issues in both the public and private sectors. Brazil, Canada, and the United States have also laid concrete plans to launch CBDC. Simultaneously, countries like South Korea, India, Russia, Sweden, Thailand, and the United Arab Emirates are gearing up to launch CBDC by 2024, per trusted sources. The International Monetary Fund says Latin America and the Caribbean are ahead of others in adopting digital money. The reason behind the adoption of CBDCs by the government is to boost payment systems' flexibility and financial inclusivity. However, based on a survey by the European Central Bank, Europeans are negative about digital currencies showing concerns over payment privacy regarding digital euros. CBDCs are controlled by governments, hence, differ from non-traceable Bitcoins. The value of bitcoins and NFTs is diminishing but at the same time another face of virtual currency is creating space in the economy.

Gaining Currency

https://www.marketresearchfuture.com/news/central-bank-digital-currencies-gaining-status-in-2023

Latest News

UK Seeks Renewable Energy Boost: Energy Secretary Ed Miliband to Visit China in 2025

Energy Secretary Ed Miliband will visit China from March 17 to 19, 2025, to boost the United Kingdom’s (UK) renewable energy initiatives. This visit aims to revive the UK-China Energy Dialogue, excluding nuclear power, via clean and sustainable…

Semiconductors Powering the Future: Fostering Renewable Resources Growth Amid Complexity in Supply Chains

In 2025, the global semiconductor industry is set to boom as sales are projected to increase by 15 percent, reaching nearly USD 721 billion. This growth is prominent in both the technological region and the aiding toward the clean energy shift.

With…

Advanced Packaging Reshapes Chip Industry in 2025

The world of semiconductors is evolving with new advanced multichip packaging innovations in 2025. Due to the advancements, the chip's performance improves, mobile devices and new GenAI technology can be produced promptly, and production and…

AI Reinvents Energy Efficiency in Building Designs 2025: A Novel Approach to Clean Energy Transition

In 2025, AI technology will change energy efficiency in buildings, marking another milestone in the shift towards renewable energy. With AI, Building Management Systems (BMS) can now guarantee energy monitoring and optimization, which minimizes waste…

Big Tech Backs Nuclear Expansion: Pledges to Triple Global Capacity by 2050

Leading technology giants Amazon, Google, and Meta have teamed up with other big energy users in a historic action at the CERAWeek 2025 energy conference in Houston to promote an ambitious initiative: doubling world nuclear power capacity by 2025…

Aarti Dhapte

Team Lead - Research

Latest News

UK Seeks Renewable Energy Boost: Energy Secretary Ed Miliband to Visit China in 2025

Semiconductors Powering the Future: Fostering Renewable Resources Growth Amid Complexity in Supply Chains

Advanced Packaging Reshapes Chip Industry in 2025

AI Reinvents Energy Efficiency in Building Designs 2025: A Novel Approach to Clean Energy Transition

Big Tech Backs Nuclear Expansion: Pledges to Triple Global Capacity by 2050