The Digital Dollar, the Digital Pound
As noted in an earlier article, the European Union (EU) debate around the introduction of a Digital Euro is one that needs to measured against the efforts being made around the world by non-EU on similar initiatives. Brussels can’t afford to be left behind here, although it’s already perceived to be lagging.
According to a global study of Central Bank Digital Currencies (CBDC) conducted by PwC, Nigeria leads the world here with its e-Naira, launched in October last year. It’s followed by the likes of the Bahamas, China and Jamaica, all countries with live or near-live digital currencies on offer. (Incidentally, the number one country in Europe for CBDC is Ukraine.)
Much of the effort that’s been put into such CBDCs comes back to political intent, suggests the PwC study:
All digital money, whether issued privately or by the state, can be monitored and controlled. Whether that is a desired feature or not differs, country…