Central Banks Digital Currency: Detection of Optimal Countries for the Implementation of a CBDC and the Implication for Payment Industry Open Innovation

Sergio Luis Náñez Alonso, Javier Jorge-Vázquez, Ricardo Francisco Reier Forradellas · 2021 · Journal of Open Innovation Technology Market and Complexity

Summary. This paper identifies which countries are best positioned to implement Central Bank Digital Currencies (CBDCs) by analyzing correlations with pioneer nations like the Bahamas, China, and Uruguay. Using statistical methods, the authors find that Lithuania, Estonia, and Finland in Europe; Brazil and Uruguay in South America; Malaysia in Asia; and South Africa in Africa show the strongest alignment with successful CBDC implementation conditions.

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@article{alonso-2021-central-banks-digital-currency-detection,
  title   = {Central Banks Digital Currency: Detection of Optimal Countries for the Implementation of a CBDC and the Implication for Payment Industry Open Innovation},
  author  = {Sergio Luis Náñez Alonso and Javier Jorge-Vázquez and Ricardo Francisco Reier Forradellas},
  journal = {Journal of Open Innovation Technology Market and Complexity},
  year    = {2021},
  doi     = {10.3390/joitmc7010072},
  url     = {https://doi.org/10.3390/joitmc7010072}
}

TY  - JOUR
TI  - Central Banks Digital Currency: Detection of Optimal Countries for the Implementation of a CBDC and the Implication for Payment Industry Open Innovation
AU  - Sergio Luis Náñez Alonso
AU  - Javier Jorge-Vázquez
AU  - Ricardo Francisco Reier Forradellas
JO  - Journal of Open Innovation Technology Market and Complexity
PY  - 2021
DO  - 10.3390/joitmc7010072
UR  - https://doi.org/10.3390/joitmc7010072
ER  - 

Details

DOI

10.3390/joitmc7010072

Countries

Bahamas, China, Uruguay, Lithuania, Estonia, Finland, Brazil, Malaysia, South Africa

Regions

Asia, South America, Europe, Africa

Categories

broadband-and-digital, policy, general-innovation

Added

2026-04-28