Central Bank Digital Currency Models

This research paper explores the models and implications of central bank digital currency (CBDC) in four countries: China, Japan, the U.S., and Australia. The paper analyses the different design choices, governance structures, and technological challenges of CBDC development in each country. The paper also compares the progress and impact of CBDC on financial stability, privacy, and centralised control. The paper concludes that CBDCs have the potential to revolutionise digital payment systems and enhance the efficiency and security of transactions, but they also pose significant risks and trade-offs that need to be carefully addressed. The paper provides some recommendations for CBDC development and adoption, such as establishing comprehensive regulations, educating the public, and ensuring interoperability.