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Navigating the Path to CBDC Adoption

Navigating the Path to CBDC Adoption
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Author(s): Conrad Kraft (Digital Euro Association, South Africa)
Copyright: 2024
Pages: 18
Source title: Exploring Central Bank Digital Currencies: Concepts, Frameworks, Models, and Challenges
Source Author(s)/Editor(s): Guneet Kaur (University of Stirling, UK), Pooja Lekhi (University Canada West, Canada)and Simriti Popli (Kaplan International College, UK)
DOI: 10.4018/979-8-3693-1882-9.ch009


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As central bank digital currencies (CBDCs) continue to gain global interest, establishing effective strategies for widespread adoption is crucial, yet remains unestablished. This concise exploration underscores the importance of stakeholder buy-in, extensive public awareness, and robust value propositions. Emphasis is given to leveraging strategic partnerships and aligning mutual benefits to secure substantial commercial participation, while multidimensional education initiatives can help foster a clear understanding of CBDCs among potential users. A persistent theme is the necessity of intertwining CBDC operations with user expectations, which involves creating an accessible, easy-to-use, and inclusive digital currency. By incorporating realistic timeframes in the gradual adoption process, the road to integration becomes more manageable, avoiding potential destabilisation of the financial landscape.

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