The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, Sveriges Riksbank and the Swiss National Bank, together with the Bank for International Settlements (BIS), have created a group to share experience as they assess the potential cases for central bank digital currency (CBDC) in their home jurisdictions.
The group will assess CBDC use cases; economic, functional and technical design choices, including cross border interoperability; and the sharing of knowledge on emerging technologies. It will closely coordinate with the relevant institutions and forums – in particular, the Financial Stability Board and the Committee on Payments and Market Infrastructures (CPMI).
The group will be co-chaired by Benoît Coeuré, Head of the BIS Innovation Hub, and Jon Cunliffe, Deputy Governor of the Bank of England and chair of the CPMI. It will include senior representatives of the participating institutions.
To learn more about the Bank for International Settlements go to the BIS website.
There you can find more information on CBDC, the central bank digital currency.
Digital payment is a big thing and often cryptocurrencies based on the blockchain technology are part of it. Read more about this development in our archive.
On the other hand we published a recent report on the importance of physical cash.