Bank of America pravi, da bodo CBDC spremenili denar in plačila

1. Bank of America has said that CBDCs and stablecoins will revolutionize money and payments.
2. The merits and demerits of CBDCs depend on how they are issued.
3. China has had the most success with its digital yuan.

According to a study report by Bank of America (BAC) on Tuesday, digital currencies, such as central bank digital currencies (CBDCs) and stablecoins, represent the natural progression of money and payments.

Analysts led by Alkesh Shah argue that central bank digital currencies have “the potential to revolutionize global financial systems and may be the most significant technological advancement in the history of money.”

The Bank of America anticipates that the central banks of industrialized nations and emerging economies will place an emphasis, respectively, on the efficiency of payments and the inclusion of financial markets. However, the advantages of CBDCs and the hazards associated with them are dependent on how they were issued and how they were designed.

In the same vein, a US organization called the Atlantic Council claims that over one hundred nations are actively researching and developing CBDCs in the research and development phase. 

Eleven nations, including Jamaica, Nigeria, and the Bahamas, have successfully established their own CBDC programs. A large number of nations, including China, India, and Thailand, are also now participating in the pilot phase.

Notably, China has had the most success with its digital yuan, with transactions exceeding $14 billion; however, overall volumes have slowed significantly, going from a record 154% growth in transaction volume in 2020 to just 14% since the end of 2021. This is despite the fact that China has had the most success with its digital yuan.

It’s also worth noting that as of late December, users of China’s digital yuan central bank digital currency (CBDC) wallet app were allowed to send money to one another in digital “red envelopes,” modeled like the physical ones used in China’s conventional monetary system.

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