Central bank digital currencies (CBDCs) have taken center stage amongst conversations between central banks, governments and private industry. The future of money is uncertain, but we are certain that it will involve significant change as blockchain and distributed ledgers achieve adoption and production deployments (i.e. Bahamas) at an increasingly frequent rate. To provide clarity, we’ve framed a few questions and responses to address these changing dynamics.
- What is Central Bank Digital Currency?
- Why care now?
- Who will be impacted by CBDCs?
- What is the value of CBDC for central banks and the banking system?
- What are the competitive pressures?
- What is KPMG’s role in the CBDC discussion?
2020 has seen unprecedented approaches to economic and monetary policy establishing the need for more efficient systems to use and exchange money and value, setting the stage for accelerating adoption of CBDCs. In anticipation of the multi-faceted transformations that CBDCs present, KPMG is working to help support our clients to navigate this new landscape.
These pressures, alongside impending launches from private sector projects like Libra, have driven the US to rapidly mobilize efforts in the CBDC space to drive private.
Read the below point of view and reach out to KPMG to learn more about Central Bank Digital Currencies and their impact on the future of money.
