Central Bank Digital Currencies (CBDCs) are slowly becoming a reality. The initial hype may have faded, but to crypto advocates’ disdain, these digitized versions of legal tenders appear to be inevitable. So far, 100 countries are reported to be exploring the concept in some form or the other.
Despite not yet being rolled out full-fledged, CBDCs have managed to attract numerous narratives.
Social Experiment?
Project Rosalind – a central bank digital currency (CBDC) initiative with the Bank of England, in joint participation run by the BIS Innovation Hub London Centre – developed 33 API functionalities and successfully explored more than 30 retail CBDC use cases covering a broad range of domains for both individuals and businesses.
Ripple also teamed up with Colombia’s central bank, Banco de la República, to pilot CBDC.
The recent events demonstrate that CBDCs have emerged as a powerful indicator of blockchain technology’s increasing importance, maturing beyond its initial pe
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