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Central bank digital currency projects aim to complement cash, not replace it

New research recently published by the Bank for International Settlements (BIS) includes a detailed analysis of 32 various projects around the world related to the design, development and launch of central bank-issued digital currencies. Perhaps the most interesting fact unveiled by the research is that none of the 32 projects analyzed were working to replace existing national currencies (i.e. cash), rather they are being designed to complement them. This is especially the case in countries where digital payments are already relatively advanced and the use of cash is declining.

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