A professional association for investment experts, CFA Institute, conducted a survey in regions like India and China to understand investment experts’ views on Central Bank Digital Currencies (CBDCs).
The survey revealed that many investment professionals supported CBDCs for faster payments and transfers (58%), with some believing central authorities should play a significant role in developing cryptocurrencies (30%).
However, there were concerns too. The most common objection to CBDCs was related to privacy (50%), followed by a perceived lack of practical use (40%). Interestingly, only 10% thought CBDCs would be harmful to banks.
In terms of the impact on financial inclusion (making financial services accessible to more people), the opinions varied depending on the region. A majority of respondents from China (66%) and India (64%) believed that CBDCs would improve financial inclusion. In contrast, the percentage was lower among U.S. respondents at 24%.
The survey also revealed that opinions differed based on the respondents’ location and age. Investment professionals from emerging markets were generally more supportive of CBDCs than those from developed markets.
Younger respondents and professionals in banking were more willing to use CBDCs compared to others.
The survey showed that investment professionals’ attitudes toward CBDCs were mixed, with some expressing support and others remaining skeptical. This stands in contrast to the often polarized views on CBDCs within the crypto community and political circles in the United States.
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