Amid growing interest in digital currency, the WEF and a community of over 40 central banks, international organisations, academic researchers, and financial institutions have created a framework to help central banks evaluate, design, and potential deploy such instruments.

Announcing the framework, the World Economic Forum (WEF) said the National Bank of Cambodia has already piloted a quasi-form of CBDC (Central Bank Digital Currency) for its national payments system.

Besides, the central banks of Bahrain, Thailand, and Uruguay are applying the toolkit to their CBDC evaluation process, while the People's Bank of China and Eastern Caribbean Central Bank are also among early movers.

But due in part to the market-moving nature of central bank announcements, the majority of research and experimentation is done independently, behind closed doors, the WEF said.

The CBDC Policy-Maker Toolkit provides high-level guidance and information for retail, wholesale, cross-border, and private-sector issued "hybrid CBDC", as well as for large, small, emerging, and developed countries. | To read full story, visit https://startuparound.com/read/1579788089.527081/Central-banks-wake-up-to-digital-currency,-create-new-framework-with-WEF?ref=audio_experience