What do people think about central bank digital currencies (CBDCs)? A survey of > 90,000 conducted with capital markets and investment practitioners sheds some light on the demand side of CBDCs.
Key insights:
1️⃣ There is limited understanding of and support for CBDC. Globally, 42% of respondents think a CBDC should be launched.
2️⃣ There is higher receptivity among younger respondents, in the Asia-Pacific region, in developing economies, and in China and India.
3️⃣ Top reason to issue a CBDC is to accelerate payments.
4️⃣ Chief concern were cybersecurity and fraud, data privacy, and lack of use cases.
5️⃣ 48% of survey participants would use a CBDC in some capacity.
Note that all figures are from the paper.