Central banks worldwide are tasked to ensure monetary policy and economic stability. With the emergence of privately issued crypto assets that are not under the purview of central banks and, as such, pose a risk to monetary policy and stability, central banks are responding by proposing alternative digital payments in the form of central bank digital currencies (CBDCs). 
In this second instalment on unpacking CBDCs, we will discuss wholesale and retail CBDCs in detail and account and token-based CBDCs. 
Central banks are responsible for ensuring the stability of countries’ economic and financial stability and introducing monetary policy. In response to the rapid emergence of private crypto assets, over which they have no control, central banks are exploring introducing retail and wholesale CBDCs.
Central banks are interested in CBDCs as we move into an entirely cashless society. CBDCs in the place of cash will benefit consumers, offer greater security, and relieve banks of the bur

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