It can be observed that the global adoption of central bank digital currencies (CBDCs) has been proceeding at a sluggish pace. The usage of CBDCs in countries that have introduced them has often fallen below the expectations of many. In a recent CoinDesk article, Conrad Kraft and I thoroughly examine the reasons behind this gradual progress.
While some may find this slower pace disappointing, is it genuinely as lackluster as it seems? Or does it merely reflect another aspect of how technologies typically establish themselves amid hesitation and a lack of understanding?
In this article, we contend that a „slow and steady“ approach may not necessarily be a setback, as long as the CBDC is designed in a manner that brings tangible benefits to citizens.