{
  "title": "Central Bank Digital Currency Adoption: Inclusive Strategies for Intermediaries and Users",
  "publication": "Fintech Notes, September 20, 2024",
  "sourceUrl": "https://www.imf.org/en/publications/fintech-notes/issues/2024/09/21/central-bank-digital-currency-adoption-inclusive-strategies-for-intermediaries-and-users-555118",
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  "summary": "Among the countries that have launched central bank digital currency (CBDC) or are conducting large-scale pilots, adoption remains slow and limited due to various challenges such as lack of public awareness and trust, preference for existing payment methods, and inadequate incentives for intermediar",
  "sections": [
    {
      "heading": "Summary and purpose",
      "content": "- Among countries that have launched central bank digital currency (CBDC) or are conducting large-scale pilots, adoption remains slow and limited.\n- The paper argues that successful CBDC adoption hinges not only on technical readiness and operational robustness, but also on strategic policy and design choices that target end-user and intermediary involvement from the outset.\n- This paper forms part of the CBDC Virtual Handbook and aims to encourage policymakers to consider adoption early on."
    },
    {
      "heading": "Key challenges to CBDC adoption identified",
      "content": "- Lack of public awareness and trust.\n- Preference for existing payment methods.\n- Inadequate incentives for intermediaries."
    },
    {
      "heading": "The REDI Framework (overview)",
      "content": "- Introduces a framework that outlines:\n  - Regulatory strategies.\n  - Education/communication initiatives.\n  - Design/deployment choices.\n  - Incentive mechanisms to prepare for CBDC adoption."
    },
    {
      "heading": "Target audiences and thematic focus",
      "content": "- Policymakers preparing for CBDC adoption.\n- Intermediaries and end users whose involvement is critical to scaling CBDC.\n- Subject areas: Central Bank digital currencies, Currencies, Digital financial services, Financial inclusion, Financial markets, Money, Payment systems, Technology."
    },
    {
      "heading": "Practical implications and policy emphasis",
      "content": "- Central banks should not assume automatic uptake post-launch; proactive measures are required.\n- Early incorporation of strategies targeting intermediaries and end users is essential to drive adoption and scale.\n- Policy and design choices should be coordinated with communication and incentive mechanisms to address awareness, trust, and behavioral preferences.\n\nInternational Monetary Fund — Fintech Notes 2024/005\n\n---\n\n Content in this bundle\n\n- Central Bank Digital Currency Adoption: Inclusive Strategies for Intermediaries and Users\n  - Central Bank Digital Currency Adoption: Inclusive Strategies for Intermediaries and Users (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Central Bank Digital Currency Adoption: Inclusive Strategies for Intermediaries and Users (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/fintech-notes/issues/2024/09/21/central-bank-digital-currency-adoption-inclusive-strategies-for-intermediaries-and-users-555118"
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    "Authors: Tayo Tunyathon Koonprasert, Shiho Kanada, Natsuki Tsuda, Edona Reshidi",
    "Published: September 20, 2024",
    "Series: Fintech Notes",
    "DOI: https://doi.org/10.5089/9798400289422.063",
    "Among countries that have launched central bank digital currency (CBDC) or are conducting large-scale pilots, adoption remains slow and limited.",
    "The paper argues that successful CBDC adoption hinges not only on technical readiness and operational robustness, but also on strategic policy and design choices that target end-user and intermediary involvement from the outset.",
    "This paper forms part of the CBDC Virtual Handbook and aims to encourage policymakers to consider adoption early on.",
    "Lack of public awareness and trust.",
    "Preference for existing payment methods.",
    "Inadequate incentives for intermediaries.",
    "Introduces a framework that outlines:",
    "Policymakers preparing for CBDC adoption.",
    "Intermediaries and end users whose involvement is critical to scaling CBDC.",
    "Subject areas: Central Bank digital currencies, Currencies, Digital financial services, Financial inclusion, Financial markets, Money, Payment systems, Technology.",
    "Central banks should not assume automatic uptake post-launch; proactive measures are required.",
    "Early incorporation of strategies targeting intermediaries and end users is essential to drive adoption and scale.",
    "Policy and design choices should be coordinated with communication and incentive mechanisms to address awareness, trust, and behavioral preferences.",
    "**Central Bank Digital Currency Adoption: Inclusive Strategies for Intermediaries and Users**"
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