Market experts in Europe and around the world are engaged in a lively debate about these questions, and several central banks are looking into the opportunities and risks associated with central bank digital currencies.
A survey among central banks by the Bank for International Settlements (BIS) shows a shift away from mainly analytical work on CBDC towards technical experimentation, with more than 60% of central banks reporting that they are running practical experiments.1  1/4  BIS central bankers' speeches  However, central banks would be well-advised to be diligent and take their time.