Key Takeaways:
- 💵 134 countries representing 98% of the global economy are exploring digital currencies
- 🚀 Over half of the countries are in advanced development, pilot, or launch stages
- 🇺🇸 The United States is falling behind in developing a digital dollar for the wider population
- 💱 China, Europe, and Japan are ahead in CBDC development
- 🌐 There is a risk of the US lagging leading to a more fractured international payments system
- 💼 36 pilot projects are underway, including China’s e-CNY and ECB’s digital euro
- 🛡️ Work on wholesale CBDCs doubled after Russia’s invasion of Ukraine
- 💵 All BRICS member states are at advanced stages in CBDC development
- 🌏 Major launches of digital currencies are expected by 2027, potentially including the ECB
- 🇨🇳 China’s digital yuan is the largest and most advanced pilot
- 💰 Central banks worldwide are exploring the development of digital currencies
- 🌍 Various countries are in different stages of launching their own digital currency
- 🚀 Central bank digital currencies could streamline cross-border payments
- 🔒 There are concerns about privacy, financial stability, and competition from private cryptocurrencies
Delta Air Lines Resumes Flights to Israel and Central Bank Digital Currencies in Focus
Delta Air Lines has announced the resumption of flights to Israel starting June 7. The decision comes after an extensive security risk assessment was conducted to ensure the safety of passengers and crew. This move follows United Airlines’ earlier resumption of flights from Newark, with other airlines expected to follow suit in the fall.
The resumption of flights to Israel is seen as a potentially significant turning point, with Delta closely monitoring the situation in partnership with the government and private sector. Several other airlines, including Lufthansa and Air France, have already restarted flights to Tel Aviv.
In the financial world, central banks worldwide are exploring the development of digital currencies, with 134 countries representing 98% of the global economy involved in the process. However, the United States is falling behind in this development, posing a risk of a more fractured international payments system.
Major central banks like those of China, Europe, and Japan are ahead in the development of central bank digital currencies (CBDCs), with China’s digital yuan leading the way as the largest and most advanced pilot. Concerns about privacy, financial stability, and competition from private cryptocurrencies remain key issues in the transition to digital currencies.
With 36 pilot projects underway globally and BRICS member states at advanced stages in developing their own digital currencies, the world is on track for major launches of digital currencies by 2027. China’s e-CNY is expected to fully launch by 2025 or 2026, highlighting the rapid pace at which digital currencies are being adopted globally.