CBDCs and their imminent popularity

CBDC stands for central bank digital currency, and a number of countries have announced their intentions to launch theirs in the near future.

Amid the growing popularity of such assets, Guardtime, a blockchain analysis company has polled citizens of 10 countries, asking if they plan to use CBDCs when they are implemented. Almost two thirds of those surveyed said they are likely to use CBDCs after they are launched. Most of those surveyed also believe that we will see a CBDC deployed within the next three years.

The research says 64% of those surveyed would use a CBDC if it were deployed, 33% would “likely” use a CBDC. Only 10% said they would “never” use a CBDC.

The study also looked into how many people would convert their savings into CBDCs. Some 33% would move their savings into a CBDC within one month of its deployment. Some 26% would do the same within six months. Only 11% say they would never convert their savings into CBDCs.

About 30% of those surveyed are ready to receive their paycheck in a CBDC, and 27% expect their employer to switch to a national CBDC within one to six months from the moment a currency like that is deployed in their country. Some 12% claim to have made up their mind to never accept a paycheck in a CBDC.

It seems like the world is getting ready to embrace national digital currencies. What do you think? Would you use a CBDC if it became available in the near future, or would you rather wait for it to get thoroughly tested?