Central bank digital currencies could also increase and protect welfare, the Bank of Canada said in a research paper.
Singapore is holding a global competition to design a central bank digital currency for retail use. The winner will get $150,000.
The central bank for central banks slammed bitcoin, saying it "has few redeeming public interest attributes."
People would become more comfortable using digital currencies if they were established by central banks, says an EIU study from Crypto.com.
Huw van Steenis, senior advisor to the chief executive of UBS, punctures some central bank digital currency myths
Fitch Ratings highlighted three advantages of central bank digital currencies, or CBDCs.