National digital assets are preferred by 70% of the world’s government agencies

More than 70% of global financial sector players favor national digital currencies, with respondents emphasizing that CBDCs have a more promising future than fiat currencies, according to a new survey conducted by Ripple.

According to Ripple analysts, 1,600 respondents from five global financial institutions believe that CBDCs have greater potential to drive vital social change — all thanks to wider financial inclusion. As it has become known, 85% of financial institution executives are confident that their countries will introduce CBDCs over the next four years.

It is worth reminding that some countries are already taking decisive steps towards the integration of CBDCs into the financial system: in early June, the Central Bank of Jamaica officially recognized the Jam-Dex digital currency as legal tender. Jamaica became the first country in the world to legalize CBDCs at the legislative level. Also recently, the National Bank of France announced plans to launch its own digital currency (CBDC) by 2023. The International Monetary Fund has also concluded that some cryptocurrencies and central bank digital currencies (CBDCs) can be a more efficient payment solution than credit and debit cards, especially in the context of energy consumption.