A new study claims cbdc, or central bank digital currency, presents numerous possibilities and concerns. the increased likelihood of systemic bank runs is one of the risks identified in the new study. digital currencies may be regarded as safe havens in times of economic crisis because of the lower transaction costs of cbdcs. This may be used to “nationalize” commercial banking by issuing digital dollars backed up by the federal reserve. digital cash’s low-cost efficiency also comes with increased susceptibility to hacking and other forms of cybercrime, according to him. “confidentiality in financial transactions and privacy may be jeopardized,” prasad said if countries switch from cash to digital currency.

according to the atlantic council, more than 81 nations are looking into cbdcs. as many as five countries, including the bahamas, have already adopted digital currencies as legal tender.

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