I’ve updated my tabulation of retail central bank digital currency (#CBDC) explorers, including adding Azerbaijan and Bangladesh. Keep in mind that my count (86) is less than the numbers published by the Bank for International Settlements (BIS) because I include only central banks that have publicly confirmed their explorations. And my count is less than those published occasionally by the Atlantic Council (105) because they include wholesale CBDC and I suspect there’s also some double counting in theirs. [See my latest tabulation here]
Bangladesh exploring CBDC as an alternative to ‘risky’ private digital currencies
Bangladesh Bank will be conducting a central bank digital currency (CBDC) feasibility study, according to the country’s Minister of Finance AHM Mustafa Kamal. The main motivation is to “facilitate currency in virtual transactions and to encourage startups and e-commerce businesses. [Read more]
NFT Meltdowns Are Paving The Way For Better Use Cases
Widely popular and promoted by entertainers and influencers of all kinds, including many not normally associated with sound financial advice, the allure of non-fungible tokens (NFTs) has proven hard for investors to ignore. Nearly $40 billion has been invested into the NFT space in 2022 so far, and with current declines in overall crypto-asset prices, a substantial percentage of them are likely underwater, if not nearly worthless. Such dramatic headlines and damage, however, overshadow the very real and tangible use cases that NFTs can – and will – drive moving forward. [Read more]
Upcoming events I’m affiliated with:
The second session of the CBDC Think Tank CBDC Papers Lecture Series will be held on June 24 starting at 7am EST and run for 4 hours. [View list of papers and register here]
The CBDC Think Tank, in partnership with the International Monetary Fund and George Washington University, is hosting a full-day in-person CBDC Masterclass on October 12 in Washington DC. The sessions are designed as instructional deep dives with full presentations and Q&A components. [Register here]
