A central bank digital currency (CBDC) is a digital version of cash issued by a central bank that can be used to make electronic payments. It is legal tender, and complements physical cash through its advantages of security, speed, low cost, and convenience.
CBDCs differ from other private forms of digital payments because they are guaranteed by the central bank. A well-functioning CBDC meets a clearly identified demand and operates on a secure and resilient digital payments platform. Also, it is supported by the
key financial institutions and other payment service providers (PSPs) and enjoys broad support from the public, business, and government.
Published Date: July 2023
Author: M. Dacosta
Download: Project on CBDCs in Caribbean Final Version July 5 2023
JUL
2023