Matthew Graham (Sino Global) — Why CBDC and DCEP?

Why Central Banks of the World Research and Develop CBDC (DCEP in China)

As of the end of 2020, most of the world's major central banks are pushing for CBDC development. A research report released by the Bank for International Settlements (BIS) shows that 80% of the world's central banks are conducting at least some research on CBDC. In a report previously published on HashHub Research, the seven points that motivated each central bank to develop CBDC were:   

  1. To maintain access to central bank money.
  2. Cash has resilience.
  3. To maintain or improve the diversity of payments.
  4. Promotion of financial inclusion.
  5. Cross-border payment.
  6. Adjusting public privacy (or about anonymity).
  7. More efficient fiscal and monetary policy, and more options.

CBDC public testing accelerated


The People's Bank of China is one of the most advanced central banks. The People's Bank of China is already conducting public tests on the CBDC in each region of China. Below is the user interface posted on Twitter.


"A DCEP wallet application from a test that included the Agricultural Bank of China was inadvertently published. It's important as it's the first time we've seen pictures of the working DCEP wallet application..."

Matthew Graham (@mattysino)

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