The royal monetary authority of bhutan is collaborating with ripple to test the feasibility of a central bank digital currency in the country. the rma’s efforts to improve cross-border payments and expand financial inclusion were the driving force for the decision. bhutan’s gross domestic product (gdp) was $2.5 billion in 2020, according to the world bank. bhutan’s financial inclusion is expected to reach 85 percent by 2023, according to the rma. the cbdc private ledger is carbon neutral and 120,000 times more efficient than proof-of-work blockchains, which are currently in use.
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