The momentum behind Central Bank Digital Currencies (CBDCs) is building. While not imminent, they are coming, with arguably the greatest progress toward deployment having been made by the People’s Bank of China (PBoC), with real-world trials of the ‘Digital Yuan’ underway in many regions. In fact, according to the Bank for International Settlements, 80% of the world’s central banks have at least started to conceptualize and research the implementation of CBDCs, whereas 40% are at a proof of concept stage, and 10% have deployed pilot projects.
