Interest in CBDC is growing all over the world. While many countries, most notably China, are actively working on developing their digital coins, some other countries are just preparing to jump on the bandwagon. Recently, Georgia has decided to join the CBDC race.
China's Central Bank Digital Currency (CBDC) digital yuan, or e-CNY, has won a certain victory after completing tests in major Chinese cities. But the next war is now being fought between digital payment giants WeChat and Alipay.
The Reserve Bank of Australia (RBA) has advertised a position for a digital currency specialist. This is in line with the RBA's strategic plan to promote and support the development of payments in the country.
Countries that have just started participating in the development of Central Bank Digital Currencies (CBDCs) are doing pretty well. Ghana is now launching its digital cedi in two months. In contrast, China started launching its digital yuan back in March 2018 and has yet to succeed.
El Salvador has left the whole world wondering whether it should follow suit after adopting bitcoin as legal tender this month, despite critics saying it comes with huge social, economic and political burdens. Africa, particularly Tanzania, could become a carbon copy of El Salvador.