Digital Coins: China, Bahamas, Is The USA Next? By DailyCoin
- CBDCs are gaining significant traction as more countries are seeking to create digital versions of their fiat currencies.
- China's digital yuan and the Bahamian Sand Dollar are among the leaders in the new wave of CBDCs sweeping through the financial ecosystem.
- The US seems set to be one of the next nations to create its digital currency but has stated that it is in no rush to launch a digital dollar.
- At the moment, several US digital dollar pilots, largely steered by private enterprises, are experimenting with CBDCs.
Central bank digital currencies are buzzing right now as governments around the world try to play catch up with the burgeoning industry of cryptocurrencies. Since cryptocurrencies are largely decentralized, central banks do not wield sufficient power over the regulation of these digital tokens, which has spawned the recent drive for the creation of digital versions of fiat currencies.
