Central Bank Digital Currencies Gain Momentum: 130 Countries Now Exploring CBDCs

A new report reveals that 130 countries are now exploring or developing Central Bank Digital Currencies (CBDCs), representing 98% of global GDP. Several nations have already launched pilot programs, with China's digital yuan being the most advanced large-scale implementation. The European Central Bank and the Bank of England are in advanced stages of CBDC development, while the Federal Reserve continues research into a potential digital dollar. Proponents argue that CBDCs could improve payment efficiency, reduce transaction costs, and enhance financial inclusion. However, critics raise concerns about privacy, surveillance, and the potential for governments to have unprecedented control over citizens' financial transactions. The rapid development suggests that digital currencies issued by central banks may become a reality within the next few years, fundamentally changing how money works.