The Bank has undertaken significant research towards understanding the implications of a retail central bank digital currency, including exploring the implications of a digital dollar on the economy and financial system.
More than 130 countries are exploring the idea of a central bank digital currency, according to a database from the Atlantic Council, a Washington, D.C.-based think-tank.
One of the things that this cryptocurrency revolution has brought to the forefront is that we need to do more innovation. But we also need to preserve safety and many of the features of the monetary system.
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