BIS Releases Report On CBDCs

July 10, 2023 12:36 pm Comments

The Bank of International Settlements has released its preliminary report on CBDC adoption among central banks.

According to that report, 93% of banks are currently looking into CBDCs and roughly 50% of those banks have initiated pilot programs or deeper research and development.

This comes at a time when many U.S. states and localities are announcing outright bans on CBDCs.

Some have speculated that the exploration of CBDCs will ultimately backfire and lead to greater adoption of truly decentralized, neutral crypto assets—like Bitcoin.

The Bank of International Settlements tweeted:

Crypto News provided these numbers:

93% of Central Banks globally have launched research into CBDCs with more than 50% taking it a step further with concrete plans or working on a pilot.

From the 86 Central Banks interviewed by the BIS, it concluded that 15 retail CBDCs are likely to be in circulation in the financial markets by 2030.


Zero Hedge analyzed the recent development:

Later in the paper we get to what tiered remuneration means: the more SerfCoin you have, the lower your interest rate, even going negative beyond a certain point.

It’s like a built-in wealth cap and tax at the same time, where the only way to avoid it, presumably, would be to spend it – thus shoring up money velocity.

It overlooks the obvious: that those with any meaningful amount of wealth would have the incentive to avoid storing any of it in a CBDC at all.

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