A recent survey conducted by the CFA Institute shed light on whether central banks should introduce digital versions of fiat currencies. 42% believed that central banks should launch digital currencies (CBDCs), while 34% disagreed, and 24% expressed no preference.
The survey had over 4,000 participants and comes at a time when almost all major economies are considering a CBDC.
Key Findings Reveal Mixed Results
According to the survey, only 13% of participants said they had a thorough understanding of CBDCs.
Olivier Fines of the CFA Institute told Reuters that even among a sophisticated and financially literate group like their members, there is very little understanding of CBDCs. Additionally, Fines noted skepticism regarding the potential benefits of CBDCs, particularly in developed economies.
The survey found that 87% of respondents considered their understanding of CBDCs to be little or moderate.
Younger participants, especially those under age 30, were likelier to report a low level of understanding. 51% in the younger cohort compared to 39% among those over 55 years of age.
According
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Author: Shraddha Sharma
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