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Central-bank digital currencies are one of the more popular assets in the world today. Even though they are just at the start of their life span, many central banks all over the world are looking into them as a useful resource for the future. According to a Dutch financial technology-focused non-profit organisation dGen, up to 5 countries all over the world will entirely replace the Fiat currency with a CBDC by 2030.
This comes in a recent report which looks into the status of some of the biggest Fiat currencies such as the euro, the Chinese Yuan and of course, the United States dollar. Some big predictions come from this report with CBDCs being a hot topic.
The company predicts that 3 to 5 countries internationally will completely replace their Fiat with a central digital currency in the decades time. Even though the report doesn't specifically mention any countries, there are many nations that are already making a significant amount of progress with these kinds of assets including Sweden.
As these kinds of assets become more popular throughout the world in many countries, this estimate isn’t far off.
Who knows where the world will be in 10 years time, especially following the backlash of coronavirus and the recession that has been brought about with it. Central-bank digital currencies are the talk of the town right now though and it won’t be a surprise to see some countries completely go digital and replace it’s Fiat currency.
It will be interesting to see how this situation plays out.
Article produced by Adrian Barkley
