In my view, the fundamental question is: what problem could a CBDC solve? CBDC and the Payment System One issue being examined is whether a CBDC or even broader forms of digital money could make the payment system more efficient. Do these new technologies present opportunities to increase the speed of payments and/or lower costs and frictions within the payment system?
Of course, this question takes place in the context of the payments infrastructure in each jurisdiction, both for domestic payments and for cross-border payments. Many countries have launched faster payment systems and continue to investigate how central banks can support these payment systems.