According to the Bank for International Settlements (BIS), central banks can collaborate in developing central bank digital currencies (CBDC) to make cross-border payment transactions more efficient.
In the report prepared in partnership with the BIS, the International Monetary Fund and the World Bank, CBDCs What design features will you have? not yet clarified, these designs may vary from country to country. highlighted.
According to the report, central banks, while evaluating CBDC projects, not causing damage, increasing efficiency, making payment systems more robust, working in harmony with other systems. and to improve financial inclusion should pay attention.
Different CBDCs developed by central banks working in harmony cross-border payment transactions can positively affect is being considered. According to the BIS report, central banks can either set some common standards or with other CBDCs systems that can work together should cooperate with each other to develop
In the report, the CBDC systems to be developed Being compatible with external systems The importance is emphasized:
“In order for CBDCs to coexist with more different types of currencies and payment instruments and to be adopted by people, they can be used both at home and abroad. with CBDC external systems Compatibility is essential.”
While the concept studies for CBDCs continue, some central banks have implemented this project. The first example of CBDCs was signed by the Central Bank of the Bahamas in 2020. Then in Nigeria eNaira While the CBDC named CBDC was issued, China also e-CNY He continues to experiment with what he calls CBDC.