8 In practice, customers are unlikely to see much change with a retail CBDC because the product is very similar to existing private bank accounts. (One might say that a retail CBDC would be a small step for consumers and corporations, but a giant leap for central banks.) Mr Carstens mentions three types of motivation for ongoing projects.
First, the large number of countries and regions with less developed payment systems, for instance without instant payments. In these countries and regions, one account for all at the same bank will make it easier to receive instant payments. Second, it will stimulate additional competition that may spur innovation, also in the private sector.