Central Bank Digital Currency (CBDC).
CBDC is the digital version of fiat money. Pilot studies continue in 17 countries, including Turkey, Russia, Japan, China, India and South Africa.
Digital versions of the legal currencies produced by countries are being created and integrated into payment systems.
As of 2023, 119 countries, which constitute 95% of the global economy, are working on CBDC.
China's digital Yuan, e-CNY, reached a volume of $2 billion by 2022. It started to be used in the field of securities in 2023. The scale of the pilot study launched in 4 cities is gradually growing.
The Federal Reserve Bank's (FED) first large-scale project, "Project Cedar," was completed in 2022.It is said that it may take several years for the Digital Dollar to be available.
