Where Central Banks Have Issued Digital Currencies [Infographic]

Where Central Banks Have Issued Digital Currencies [Infographic]

Share to Linkedin Cryptocurrencies have seen better days. The Russian invasion of Ukraine has shattered the belief in Bitcoin BTC as a safe-haven asset, and the digital currency hit a price of around $18, 000 per Bitcoin in early July—the lowest it had been valued since December 2020. Another blockchain asset, NFTs, also experienced an unexpected fall from grace as values dwindled significantly in the once over-hyped market. Another approach to cryptocurrency, however, is growing in popularity around the world while showcasing a totally different face of blockchain payments. Central bank digital currencies, unlike Bitcoin and other first-generation crypto products, are centrally controlled by governments in the same way traditional currencies are. Despite this being the polar opposite to the idea behind decentralized, non-traceable Bitcoins, the two currency products can use the same blockchain technology. Several small countries and—as of October 2021, Nigeria—have launched their central bank digital currencies, and several more populous nations are getting ready to jump aboard a different crypto hype train. This chart shows Central Bank digital currencies launched, under development or considered around ... [+] the world. According to the Central Bank Digital Currency Tracker by Atlantic Council, official digital currencies were launched even earlier