Is 2022 the year CBDCs become a reality?
The world of digital money is changing at an unprecedented pace. The complexities of the issues at hand seem to grow with each new white paper and report, but gradually we are moving from the theoretical to the practical and each new development inches us closer to deployment.
The cover story in this year’s annual focuses on this switch from proof of concept experiments and technical challenges to political decisions. It is time, in short, for CBDC debates to reach a new stage where governments must take a role, not just central banks.
The annual also contains excellent contributions from DMI members, many of whom also reflect on the explosive pace of developments in the digital money sector. In previous editions, these changes have been primarily technical, but this year, contributors highlighted key regulatory developments, which either happened last year or that they hope to see this year. Key questions are still not settled — privacy, anonymity and offshore usage, among others — but some governments are stepping up to the plate and providing answers.
We also highlight the latest developments in CBDCs, alongside the state of play in some of the world’s key jurisdictions, many of which are still dragging their feet, lagging behind emerging markets.
The DMI remains committed to being a part of these discussions, covering each new development and showcasing the most advanced thinkers in the space at our events. A key event this year will be the DMI symposium in May, where we will follow up on the success of last year’s conference, which had some 3,000 registered attendees, including several hundred central banking officials.