The future of money will involve significant change, as blockchain and distributed ledgers achieve adoption at an increasingly frequent rate. Taking centre stage are central bank digital currencies (CBDCs), which have become the key focal point of discussions between central banks, governments and private industry. The rise of CBDCs has been accelerated by the onset of the COVID-19 pandemic as well as a global need to transparently distribute and track economic stimulus funding efficiently to individuals. China is one of the countries leading the way in this area, and will likely be one of the first countries to issue a CBDC.
This global briefing document summarises the value that CBDCs will bring to central banks and baking systems, covers how businesses will potentially be impacted by CBDC adoption, and outlines the role that KPMG is playing in CBDC discussions.