In an era defined by rapid technological advancement, the nature of money finds itself at a crossroads, presenting both opportunities and challenges for global financial systems. The rise of Central Bank Digital Currencies (CBDCs) stands as a testament to this paradigm shift, offering the promise of efficiency, transparency, and financial inclusion. However, amidst the burgeoning interest in CBDCs, a pressing problem emerges: the lack of comprehensive understanding and insight into their development on a global scale.
Recognizing this critical gap, Global Developments in Central Bank Digital Currency emerges as a guide for clarity in the complex landscape of monetary evolution. By synthesizing insights from diverse regions and jurisdictions, this book offers a holistic view of CBDC initiatives, unraveling the intricate web of motivations, challenges, and implications. From Africa to Asia, from Europe to Oceania, the book delves into country-specific developments, shedding light on the role of politics, culture, and informal institutions in shaping CBDC adoption.
As a solution-oriented resource, this book serves as a catalyst for informed discourse and strategic decision-making among academics, policymakers, and financial practitioners. By providing a comprehensive analysis of CBDCs' potential impact on monetary policy, financial regulation, and illicit flows, it equips stakeholders with the knowledge and insights needed to navigate the complexities of the digital currency landscape. With its forward-looking perspective on future developments, this book paves the way for a more inclusive, transparent, and resilient financial future.