Global Survey Reveals Limited Support and Understanding for Central Bank Digital Currencies (CBDCs)
A survey by the CFA Institute, a global association for finance professionals, indicates that only 42% of respondents believe central bank digital currencies (CBDCs) should be launched.
Many respondents, particularly from developed economies with existing efficient payment systems, expressed skepticism about the benefits of CBDCs.
In emerging markets like China and India, there was higher support for CBDCs, possibly due to perceived gaps in their financial systems. Cybersecurity and data privacy were top concerns worldwide, with 69% worried about cyberhacking risks.
Opinion: The survey highlights the need for further education and awareness about CBDCs, as many respondents show limited understanding of their potential benefits. It also reflects the varying perceptions across different countries, suggesting that the adoption of CBDCs may depend on the specific needs and challenges of each economy.