Central Banks Digital Currencies: World Experience

Received 28.07.2020. The article examines issues related to the introduction of central bank digital currencies (CBDC) for retail payments and wholesale settlements. study defines classifies currencies, researches main models CBDC systems. also analyzes features various national projects issuing Central currencies. paper uses methods economic-statistical functional-structural analysis. concludes that are a new form money. Digital can be issued in systems purpose or Among (R-CBDC) direct system model is most attractive its simplicity. This eliminates dependence on any financial payment intermediaries. Models synthetic hybrid R-CBDC characterized by reliability speed processing multiple transactions which makes them promising implementation. (W-CBDC) with universal currency (U-W-CBDC) may suitable eliminating disadvantages modern cross-border However, large number technological changes as well high operating costs U-W-CBDC make such difficult implement non-developed market infrastructure countries. National regulators have different motivations advantages consist providing users highly liquid, low-risk, universally available means payment. they offer faster, safer, cheaper payments. advanced considered DCEP (People’s Bank China) E-krona (Central Sweden). successful pilot W-CBDC Jasper Canada) Ubin (Monetary Authority Singapore), were able achieve interoperability conducting Currently based use distributed ledger technology implemented DLT-tokens. Countries develop divided into three groups. first group countries where designed support demand money (Sweden, Norway, Singapore, etc.). second – adoption afford keep place international settlements (USA EU) expanding at level (China). third represents associated control monetary circulation de-dollarization (Uruguay, South Africa, Cambodia,