by Mike ‘Mish’ Shedlock
Six countries have digital currency pilot programs in place. Canada is in development mode while the US lags.
The Central Bank Digital Currency Tracker shows the evolution towards central bank sponsored digital currencies.
Nearly 80% of central banks are engaged in work related to national digital currencies, according to a 2020 Bank of International Settlements survey.
Last month, China announced a pilot project of its digital Yuan in four cities. This month, the US is considering implementing a digital dollar.