Chinese and Indian investment professionals show strong support for CBDC in new survey
The CFA Institute asked members around the world what they think of CBDCs. Their answers might surprise the crypto community.
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The CFA Institute, the trade association that issues Certified Financial Analyst credentials, asked its members about their perception of central bank digital currency (CBDC), saying it wanted to examine the prospects on the side. demand for fintech.
The survey revealed a wide range of opinions that depended on the location and even the age of the respondents. The response was generally unenthusiastic. Although 47% of respondents said they had a moderate understanding of CBDCs and 42% said they thought central banks should launch digital versions of fiat currencies (24% having no opinion), there was a large divergence between those of developed and emerging markets.
Investment professionals in the United States are the least supportive of launching a CBDC, at 31%, compared to 37% supportive across all developed markets. In emerging markets, support averaged 61%, with support reaching 66% in India and 70% in China. Bankers showed more support (50% in commercial banks, 51% in investment banks) than asset managers (38%).
Support for the CBDC by geography. Source: CFA InstituteThe most common reason for supporting CBDCs was to speed up payments and transfers (58%). This was followed by the somewhat cryptic proposition that "central authorities should play a central role in the development of cryptocurrencies" (30%).
Confidentiality was the most common objection (50%). This was followed by the lack of use cases (40%). Only 10% of respondents thought a CBDC would be detrimental to banks. Forty-six percent of respondents overall thought a CBDC would have little or no impact on financial inclusion. However, the regional variation in responses was pronounced here, as a clear majority in China (66%) and India (64%) believed a CBDC would improve inclusion, with US respondents coming in lowest at 24%.< /p>
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The CFA Institute asked members around the world what they think of CBDCs. Their answers might surprise the crypto community.
News
Join us on social networks
The CFA Institute, the trade association that issues Certified Financial Analyst credentials, asked its members about their perception of central bank digital currency (CBDC), saying it wanted to examine the prospects on the side. demand for fintech.
The survey revealed a wide range of opinions that depended on the location and even the age of the respondents. The response was generally unenthusiastic. Although 47% of respondents said they had a moderate understanding of CBDCs and 42% said they thought central banks should launch digital versions of fiat currencies (24% having no opinion), there was a large divergence between those of developed and emerging markets.
Investment professionals in the United States are the least supportive of launching a CBDC, at 31%, compared to 37% supportive across all developed markets. In emerging markets, support averaged 61%, with support reaching 66% in India and 70% in China. Bankers showed more support (50% in commercial banks, 51% in investment banks) than asset managers (38%).
Support for the CBDC by geography. Source: CFA InstituteThe most common reason for supporting CBDCs was to speed up payments and transfers (58%). This was followed by the somewhat cryptic proposition that "central authorities should play a central role in the development of cryptocurrencies" (30%).
Confidentiality was the most common objection (50%). This was followed by the lack of use cases (40%). Only 10% of respondents thought a CBDC would be detrimental to banks. Forty-six percent of respondents overall thought a CBDC would have little or no impact on financial inclusion. However, the regional variation in responses was pronounced here, as a clear majority in China (66%) and India (64%) believed a CBDC would improve inclusion, with US respondents coming in lowest at 24%.< /p>
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