Categorie
Pacific Islands

Central bank digital currencies could solve Pacific banking problems (Ross Buckley, Anton Didenko, East Asia Forum)

Central bank digital currencies (CBDCs) are widely considered the next stage in monetary evolution, having the potential to overcome long-standing challenges within the global currency and payments system. Our recent article explores the range of benefits they can offer, from ensuring that public money remains a dominant unit of account as private currencies emerge in increasing numbers to fostering financial inclusion of the unbanked and underbanked in our communities. More rigorous evaluation of their viability and fitness for purpose in countries with undeveloped digital and financial infrastructure needs to be undertaken.

Central bank digital currencies could solve Pacific banking problems (eastasiaforum.org)