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IPFS News Link • Central Banks/Banking

Global CBDC Rollout Continues Apace

•, Kit Knightly

Meanwhile, on the financial back pages, all over the world the implementation of Central Bank Digital Currencies draws nearer.

China, whose digital Yuan was the major flagship CBDC, is in the middle of an immense trial covering over 25 million people. This week they released new guidelines for tourists using CBDCs for the first time.

A journalist for the crypto-focused DLNews wrote of her experience using it, and while functionality might seem limited right now we should note that she talks up the "de-dollarization" aspect of CBDCs, aligning digital currency with the "multilateral world" plan.

Hong Kong has its own CBDC program, the second trial stage of which launched last week. They are developing the ability to use "tokenised deposits" to add $160bn to their GDP.

In Europe, following late February's Digital Euro Conference (DEC24), the European Central Bank has announced the development of the "digital euro rulebook".

In Sweden, the Riksbank's e-Krona program published its final report on its CBDC pilot a few days ago. Coin Telegraph reports they working on making its CBDC available offline.

The Central Bank of the UAE announced they are launching their own CBDC pilot a few days ago.

That's just the technical developments, saying nothing of the ongoing propaganda campaign.

As I already said, in order to appeal to the anti-Imperialist left, we're being told that CBDCs will help the world "de-dollarize".

Another angle is that CBDCs will help developing nations prosper. For example, reports that CBDCs will help "revive Latin American economies".

All this is just from the past week. It goes on and on and on.

The only slight hold-out seems to be the US, where CBDCs remain somewhat contentious.

The e-dollar has stuttered along in progress compared to the rest of the world, with contradictory reports from officials emerging all the time.