Introduction to Central Bank Digital Currencies (CBDCs)

Central Bank Digital Currencies (CBDCs) represent a fundamental shift in the nature of money and the financial system, offering a digital form of central bank money to the public (retail) or commercial banks (wholesale). This introductory course provides a comprehensive overview of the rationale, design choices, and potential implications of CBDCs. Participants will explore the motivations behind CBDC issuance, including payments modernization and financial inclusion, while critically analyzing the complex trade-offs related to privacy, monetary policy implementation, financial stability, and the role of the central bank in a digital economy. The course reviews global projects and the key technological considerations.