- Dec 10, 2019
Central Bank Issued Digital Currency (CBDC) seems to be the trend entering into the 22nd century. As per a survey conducted by the Bank for International Settlements more than 70% of the Central Banks around the globe are in favour of launching a digitized version of their national fiat. China may become the first country to launch their CBDC, but many other nations have expressed similar desire in the wake of Bitcoin's popularity. Recently, Sweden announced that it would bring in Accenture to help it develop its E-Krona digital currency.
The rising interest of central banks towards digitizing fiat has divided the crypto community whether it is a great move for larger adoption or is it just to avoid real decentralized currencies like Bitcoin to make its way into their financial system. It is no secret that despite Bitcoin proving its worth and many countries even regulating crypto trading does not want these decentralized currencies to become a legal tender in their financial ecosystem.