Future of digital money rests on offline payments and inclusion
Thursday 13 January 2022 – Vol.13 Ed.2.4
Commentary: Kazakhstan unrest highlights importance of offline payment functionality
By Lewis McLellan in London
Civil unrest in Kazakhstan has led to internet blackouts throughout the country. Many Kazakh citizens rely on traditional digital payment methods like debit cards to buy food, but without internet connections, these are rendered useless. The crisis makes it clear that it will not be enough for central banks to develop an online digital currency transaction network while treating cash as the offline back-up.
Read the full commentary on the website.
Commentary: Outlook 2022: Shaping a CBDC future for consumers and businesses
By Wolfram Seidemann in Munich
The past year has seen many countries intensifying their work and moving plans forward to explore central bank digital currencies. There are now more than 100 central banks conducting studies or CBDC pilot schemes to foster financial inclusion and grow digital economies. In 2022, digital money initiatives will continue at pace, making it the most important year for the development and progress of CBDCs worldwide.
Read the full commentary on the website.
