Central bank digital currencies (CBDCs) — The future of digital currency

Rise of cryptocurrencies

What are CBDCs?

Design choices

  • Account- vs token-based CBDC: How are payments verified? Is it through an account directly held with the central bank or through anonymised tokens that can be transferred mutually?
  • Direct vs indirect CBDC: What operational role will the central bank play? Will it actively manage and interact with customers, or is the function outsourced to commercial players?
  • Decentralised vs centralised CBDC: Which core technology will be utilised — a decentralised network with no single authority, or a traditional centralised network with one controlling authority?

Potential benefits


Current scenario

Sand Dollars


Digital currency/electronic payment



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Acuity Knowledge Partners

Acuity Knowledge Partners


We write about financial industry trends, the impact of regulatory changes and opinions on industry inflection points. https://www.acuitykp.com/