Survey on the Rise of CBDCs

CBDC or Central Bank Digital Currency is a form of digital currency that is issued by a Central Bank or state. It was originally inspired by Bitcoin and other blockchain-based cryptocurrencies and is expected to become a major economic development globally.

Many countries worldwide have begun the development of CBDCs or are in consideration of implementing the same in their economies. This includes countries like India, Nigeria, Jamaica, Sweden, and China. So far, CBDCs are in their early stages of development. However, they are expected to bring multiple benefits and consequently transform the use of traditional currencies.

The benefits of these digital currencies include the elimination of intermediaries or third-party intervention such as banks and financial institutions. Moreover, CBDCs also ensure optimum privacy, thus, considered safe. It can also reduce, if not eliminate any transaction fees or costs. Additionally, the use of CBDCs also prevents illicit activities.

The use of cash reduced drastically after the impact of the COVID-19 pandemic in 2020. This brought about the use of other forms of payment such as debit/credit cards, mobile payments, electronic transfers, and more. This paved the way for various digital currencies and the like.

Thus, Real Research launched a survey seeking public opinions on the rise of CBDCs. The survey aims to find what the public thinks about Central Bank Digital Currencies. Also, do they think CBCDs will be effective in possibly curbing any monetary concerns?

So, hurry and share your opinion via the survey on the rise of CBDCs on the Real Research app from April 15, 2022. After that, you will receive 12 TNC as a reward.