IBM and the Official Monetary and Financial Institutions Forum (OMFIF) have released details of a joint investigation into the effectiveness of central bank digital currencies (CBDCs) as a replacement for government-issued fiat. The report surveyed 21 central banks from around the world to determine sentiment toward digital versions of central bank fiat money. While the investigation found it unnecessary for central banks to rush in issuing digital currencies, 38 percent of those surveyed came from institutions that are actively researching and trialling wholesale CBCDs. But even though 76 percent were uncertain as to the effectiveness of digital ledgers (DLTs), most…
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