Central Bank Digital Currencies (CBDCs) have been a key topic for blockchain technology enthusiasts, futurists, governments, and policymakers recently. In today’s world, they are evolving from a topic of interest to a high-potential tool for economies around the world to better address the massive economic impact of the COVID-19 pandemic and beyond.

Policymakers, including central banks and governments, are uncertain where, how, and what tools to use to save their economies as they grapple with the crisis and prepare for the next. As a result, it has increased the interest in digital currency innovation for the decade to come.

To succeed as a significant component of central bank recovery toolkits, however, States must be serious about meeting the privacy, transparency, and trust expectations necessary for them to become a reliable means of exchanging value within the global economy.