Central Bank Digital Currency (CBDC) is a form of digital currency that is issued and backed by a central bank, such as the Federal Reserve or the European Central Bank. Unlike cryptocurrencies, which are typically decentralized and not backed by any central authority, CBDCs are designed to be a digital version of a country’s physical currency and are meant to be used as a medium of exchange, store of value, and unit of account.

One of the main benefits of CBDCs is that they could offer greater financial inclusion by allowing people who are unbanked or underbanked to access digital financial services. Additionally, CBDCs could potentially reduce the cost and time involved in cross-border payments and make them more efficient.

However, there are also concerns about the potential impact of CBDCs on the financial system. For example, some worry that they could lead to bank runs and reduce the power of commercial banks. Others are concerned about privacy issues and the potential for central banks to monitor or control financial transactions.

Despite these concerns, many central banks are exploring the possibility of introducing CBDCs. China is already testing its own digital currency, and other countries, such as the United States and the European Union, are considering the possibility of launching their own CBDCs in the near future.

Hence, Real Research, an online survey app, launched a survey on public opinion on central bank digital currencies to determine whether should CBDCs be adopted by all governments, the benefits of implementing CBDCs, and the risks.


  • 66.41% are aware of central bank digital currencies.
  • Almost 70% (69.56%) support the central bank digital currency adoption.
  • 36.63% stated the benefit of implementing CBDC to counter money laundering.

Respectively, a survey on central bank digital currencies conducted on a sample of respondents indicates that a significant proportion of the population is aware of central bank digital currencies. According to the data, 66% of surveyees reported being aware of CBDCs, while 26% were somewhat aware but lacked in-depth knowledge. Only 7% reported being completely unaware of CBDCs.

Stance on the Adoption and Implementation of Central Bank Digital Currencies

Next, the survey also asked respondents about their stance on adopting and implementing CBDCs. The results indicate that most respondents support the adoption and implementation of CBDCs, with 70% expressing support, while 30% oppose it.

The data shows that CBDCs have a significant level of public support, likely due to the potential benefits they offer, such as increased financial inclusion and improved efficiency of cross-border payments. The high level of support suggests that individuals recognize the potential advantages of CBDCs and are willing to embrace the technology.

However, the fact that 30% of respondents expressed opposition to adopting CBDC suggests concerns and reservations about the technology.

Similarly, figure 1 reveals that 76% of respondents agree that all governments should adopt CBDCs; 24% disagree.

Figure 1 Respondents’ opinion on CBDC adoption worldwide
Figure 1: Respondents’ opinion on CBDC adoption worldwide

Public Survey Highlights Potential Benefits of Central Bank Digital Currencies

The survey asked respondents why they think central bank digital currencies (CBDCs) should be adopted by every country. The results indicate several potential benefits of CBDCs that respondents view as important.

Of the respondents, 14% believed that adopting CBDCs would increase financial inclusion, a major benefit of the technology. CBDCs could allow unbanked or underbanked individuals to access digital financial services, potentially reducing the financial exclusion gap.

Another 11% of respondents believed that CBDCs would reduce transaction fees, a significant advantage for businesses and individuals who regularly make cross-border transactions. CBDCs could potentially reduce the costs and time associated with cross-border payments and make them more efficient.

Similarly, 14% of respondents believed that CBDCs would lead to faster payment processing times, which would be a significant advantage for businesses that rely on fast and efficient payment processing.

A significant proportion of the respondents (27%) believed that CBDCs would improve monetary policy. CBDCs could give central banks more precise control over the money supply, potentially leading to improved economic stability and lower inflation rates.

Finally, 14% of respondents believed CBDCs would enhance security and privacy. CBDCs could offer better security features and privacy protections than traditional payment methods, which is particularly important given the growing concern about online security and privacy.

Among these findings, 37% reported curbing money laundering as a benefit of implementing CBDCs. Followed by increasing payment efficiency (29%), completing current forms of money and financial services (20%), deterring criminal activity funds (5%), improving international payment options (4%), and reducing net transaction costs, benefitting lower-income households (2%).

Figure 2 Benefits of implementing CBDCs
Figure 2: Benefits of implementing CBDCs

Potential Risks of Implementing Central Bank Digital Currencies

Contrarily, 14% cited the risk of CBDC implementation being an increase in the money supply without an increase in GDP. Additionally, there is a 10% stated exchange rate risk, a 12% increase in lending costs, a 12% increase in operational concerns, a 15% potential for improper government surveillance, a 13% potential for currency substitution through cross-border transactions, a 13% potential for data security breaches, and a 12% potential for cyberattacks.

Is the End Near for Physical Cash?

According to the results of the following poll, respondents believe that the CBDC system will replace the traditional cash system in the future. Of those surveyed, 33% stated that they believe it is “highly likely” that CBDCs will replace traditional cash, with an additional stating that it is “somewhat likely.” One, a small minority (3%) believed that it is “highly unlikely” that CBDCs will replace traditional cash.

The large number of respondents who believe the possibility of CBDCs replacing physical cash is likely to point to a significant change in how people perceive and use the currency. The remaining 25% of respondents expressed a neutral stance, and 5% were unsure.

Figure 3 Will the CBDC system replace traditional cash
Figure 3: Will the CBDC system replace traditional cash?

Lastly, the survey asked how likely one type of CBDCs would be issued for domestic and international transactions.

Results revealed that 42% believed it “extremely likely,” and 25% believed it “somewhat likely.” In addition, the minority (5%) said “somewhat unlikely” and “extremely unlikely” (2%). Notably, 22% remained neutral, and 5% remained uncertain.


Survey TitlePublic Opinion on Central Bank Digital Currencies
DurationMarch 09- March 16, 2023
Number of Participants10,000
DemographicsMales and females, aged 21 to 99
Participating Countries Afghanistan, Algeria, Angola, Argentina, Armenia, Australia, Azerbaijan, Bahrain, Bangladesh, Belarus, Benin, Bolivia, Brazil, Brunei, Bulgaria, Burkina Faso, Cambodia, Cameroon, Canada, Chile, China, China (Hong Kong) China (Macao), China (Taiwan), Colombia, Costa Rica, Croatia, Czech Republic, Ecuador, Egypt, El Salvador, Ethiopia, Finland, France, Gambia, Georgia, Germany, Ghana, Greece, Greanada, Guatemala, Honduras, Hungary, India, Indonesia, Iraq, Ireland, Israel, Italy, Ivory Coast, Japan, Jordan, Kenya, Kuwait, Kyrgyzstan, Latvia, Lebanon, Libya, Lithuania, Malaysia, Maldives, Maluritania, Mexico, Moldova, Mongolia, Morocco, Mozambique, Myanmar [Burma], Namibia, Nepal, Nicaragua, Nigeria, Oman, Pakistan, Palestine, Panama, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russia, Saudi Arabia, Serbia, Sierra Leone, Singapore, Slovakia, South Africa, South Korea, Spain, Sri Lanka, Tanzania, Thailand, Togo, Tunisia, Turkey, Turkmenistan, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Venezuela, Vietnam, Yemen, Zimbabwe.