Sustainable Development in the Digital Age: The Role of CBDCs in Achieving the SDGs

The purpose of this paper is to study how the emergence of Central Bank Digital Currencies (CBDCs) can help in achieving Sustainable Development Goals (SDGs). The current G20 Summit organised in India has also focused on sustainable development, eradication of the ill effects of cryptocurrencies, and the development of the CBDCs that will support the aim of eradication of poverty, more job opportunities, effective utilisation during cross-border payments, reducing production and maintenance costs of currencies, reduction in transaction costs, less consumption of energy, increase in financial inclusion by reaching to unbanked and underbanked populations, at the global level. The authors have tried to map the applications of CBDC features to relevant SDGs and their respective targets. If these applications are taken to the macro level issues, these may prove to be excellent use cases for the new age solutions for the new age problems.