CBDC: Fostering Financial Inclusion

Digital technologies are transforming the way we save, spend and exchange value. In the majority of countries, governments and sovereign issuers of currency are considering the introduction of a retail Central Bank Digital Currency (CBDC).

While the stated ambition of many digital currency projects is to foster greater financial inclusion, few studies explore public needs and desire for this new form of money. Yet the success of any CBDC initiative rests on public acceptance – it must serve public demand and offer compelling incentives for adoption.

To begin to address the knowledge gap, SICPA contracted financial anthropology experts Finthropology to carry out field research in 2021 among low-income groups in Brazil. The country’s large informal sector and rapidly growing adoption of a variety of digital payments provide a unique lens to better understand consumer motivations for payments choice and usage.
 

Read the full report (PDF):