The data of the survey of the Bank for international settlements (BIS) showed that most Central banks are studying the possibility of issuing digital currency Central Bank (CBDC), but are unlikely to do so in the near future.
In a survey conducted by BIS, was attended by 63 of the Bank. They represent jurisdictions that cover about 80% of the world population and more than 90% of the economic potential.
The aim of the survey was to find out whether developing Central banks CBDC, for what purpose and what are the chances of their release.
Of the 63 banks 70% said they were currently studying CBDC or begin work in the near future. However, this involves performing the conceptual studies of the issue, the exchange of information and opinions to develop a common understanding of the phenomenon. According to the BIS report, only half of the respondents moved on to more practical actions with the testing of new technologies.
With 85% of Respondent banks believe that in the short term (1-3 years) “unlikely” or “very unlikely” release CBDC. For the medium term (1-6 years) this is the opinion of about 70% of Central banks.
The main reasons for the development of CBDC Central banks of developed countries called the possibility of improving the safety and efficiency of payments in developing States comes to the fore also ensuring financial stability and expanding access to financial services.
At the conclusion of the report, the BIS experts noted that most Central banks already represents the main problem of issue CBDC, but are not yet convinced that the benefits will outweigh the costs. Banks, who see more advantages CBDC, mainly related to developing countries.
We will remind, earlier the head of the IMF Christine Lagarde (Christine Lagarde) urged Central banks to consider placing the CBDC. But the Governor of the Bank of Thailand, which is now being implemented a proof of concept for the CBDC believes that digital currency, the Central Bank does not appear in the next 3-5 years. Studying this question the specialists of the Bank of Israel came to the conclusion that the rush with the release of the CBDC is not necessary, such a decision has come, and the Reserve Bank of India.
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