Interest in central bank digital currencies surpasses that of Bitcoin

A new report from the Bank for International Settlements (BIS) shows that public interest behind central bank digital currencies (CBDCs) is quickly gaining traction around the world, even outpacing that of Bitcoin and Facebook’s Libra. Analysts at BIS believe the sudden public interest in CBDCs is due to a number of factors, including (1) some of the largest central banks (e.g. China, the Netherlands, Sweden and the United States) already pursuing the creation and launch of their own CBDC and (2) the COVID-19 pandemic sparking an interest in nearly all things digital. Regardless of the reason why, it seems that there is likely to be enough public support for CBDCs that they will soon move from theoretical concepts to a part of our reality.