Despite the massive interest from central banks in CBDCs.

However, nearly 70% of central banks are still far from actually launching CBDCs.

The Bahamas and Cambodia are the two leading countries in the ranking, according to to speak It was prepared by PricewaterhouseCoopers, while China – the country with the largest economy in Asia – ranks third.

CBDCs are not here yet:

Central bank digital currencies (CBDC) have been a hot topic in the past few years.

A paper published by the Bank for International Settlements last year stated that at least 80% of these banks are working to release a digital version of their fiat currency.

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However, according to the above-mentioned report, it turns out that the vast majority of these banks are still far from launching a final product.

On the other hand, nearly 23% of central banks have reached the implementation stage.

According to the same report, more than 88% of CBDC projects in the pilot or production phase use blockchain as a core technology.

This is because blockchain technology allows for secure transfer of ownership, easy-to-audit and transparent transactions, and increased interoperability with different digital assets.

The “PwC” report emphasized the future importance of digital currencies for central banks for the financial sector, as quoted by the following:

CBDCs will contribute significantly to the modernization of the international monetary landscape, along with reshaping both the payment and financial infrastructure.

It will generate many opportunities for further digitization in both companies and financial institutions, as their integration into payment and financial infrastructure progresses.

China ranked after the Bahamas and Cambodia:

The PricewaterhouseCoopers report put the Bahamas and Cambodia at the top of the ranking of the central banks that advanced and actually launched their digital currency “CBDC”.

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The digital currency of the Bahamas called “Sand Dollar” was launched on October 20, 2020.

The Central Bank of the Bahamas launches its own digital currency, CBDC, based on the blockchain

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While the Cambodian Central Bank digital currency project bears the name “Bakong”.

China is usually considered the most advanced country in designing digital currency for its central banks, but the country has not officially launched the digital yuan yet.

The Chinese central bank has conducted many tests in many regions.

In addition, the government plans to expand experiences with foreign visitors at the 2022 Beijing Winter Olympics, according to CNBC.

A central bank official has stated that there is a possibility that athletes and tourists from abroad will use the Chinese digital currency during the event.

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