Countries with most research into state-sponsored cryptocurrency for consumers 2020

Published by Raynor de Best, Apr 19, 2021

China ranked as the third country worldwide in terms of how far developed its retail Central Bank Digital Currencies (CBDC) were, as of December 2020. Allegedly aiming to launch its e-CNY digital currency during the 2022 Beijing Winter Olympics, China's retail efforts into cryptocurrencies were ranked behind those of Cambodia and the Bahamas in an index that released in early 2021. Note that the figures provided here are on retail CBDC, which can be held and used by both consumers as well as a companies as a substitute for paper money or physical coins: Retail CBDC is essentially a digital substitute for fiat currency. This is different from developments found in interbank CBDC - which concerns cryptocurrencies used by financial institutions for interbank payments and financial settlement processes.

Central Bank Digital Currencies (CBDC) retail projects that are furthest in their development as of 2020, by country

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Source

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Sources

Release date

April 2021

More information

Region

Worldwide

Survey time period

December 2020

Special properties

The figures provided are meant to rank the development of CBDC worlwide, for more information see the "Details" tab. The source stat that it was rebased against an index of 100, and is dependent on the availability of data

Supplementary notes

The source states that the CBDC project status is the main variable for the index - tracking research, pilot and production as its three main stages of development. The more advanced a CBDC project is, the more point it receives. Additionally, the source allocated bonus points based on the duration of the project . Two other variables for the index value include the stance of the central bank based on published speeches, and a public interest proxy as measured in Google Trends or Baidu Index (for Mainland China).