The Digital Money Institute (DMI), part of the Official Monetary and Financial Institutions Forum think tank, found in its survey that CBDC development was “gaining momentum,” with two-thirds of central banks expecting to have CBDCs within a decade. Another 12% of central bank respondents said they did not expect to issue a CBDC at all. When asked about their objectives, more than a quarter of central banks mentioned preserving their roles in money provision and more than 10% mentioned financial inclusion. “Other” was indicated more often.

Anyone getting close to executive levels of banks can taste the venom in their words and smell the sulfur in the room.