For example, the introduction of a wholesale-only CBDC could improve the efficiency and the risk management of the interbank payment systems but there are no clear evidences if and how this solution will be more advantageous than current account settlement systems.
Likewise, a retail CBDCs directly available to end-users could provide access to simple and costless ways of paying, fostering financial inclusion, but at the same time could have undesired side effects on banks’ business models, financial stability and monetary policies.