Over the last year, the narrative surrounding central bank digital currencies (CBDCs) has advanced considerably. From an almost entirely conceptual discussion, CBDCs are now in various stages of research and development to ascertain how they could work in practice.
China’s digital yuan is currently leading the pack. Following several pilots, the Chinese government is expected to roll out its CBDC to a population of over a billion people in 2022. While no other country has yet reached the…
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