Central bank digital currencies: towards global adoption

Payment behaviour is changing. Cash is being used less and less with the generalisation of bank card payments: just 28% of the amount of point-of-sale transactions is made in cash according to the Banque de France, and is declining year-on-year.

In order to support these societal changes, improve the efficiency of payment systems and remain competitive, central banks are exploring the potential of innovative technologies. The ambition of creating a Central Bank Digital Currency (CBDC) is not to replace cash but to offer an alternative.

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Presented as a digital token, CBDC  supports  solutions to societal issues such as financial inclusion. For example, it makes it possible to democratise access to the financial system for the “unbanked”  access to mobile telephony, whose networks are much wider than the banking network. The ability to receive and send money is very important for disadvantaged members of society, allowing them to escape from poverty.

Today, most central banks are working on CDBC projects and, as announced by the European Central Bank, the project of a digital euro should see the light of day within five years.

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