The World Economic Forum (WEF) declared in a report titled "Modernizing Financial Markets with Wholesale Central Bank Digital Currency (wCBDC)" that at least 98% of the "global economy’s central banks are researching, experimenting, piloting or deploying central bank digital currency (CBDC) to determine how to modernize the capabilities of and improve access to central bank money (CeBM)."
"By tracking every financial transaction, they will have access to every detail of our spending, the recipient of our money, and how we allocate our resources. In essence, it replicates George Orwell’s dystopian society depicted in 1984," critics have argued.
Kristalina Georgieva, the Managing Director of the IMF, recently confirmed at a conference in Rabat, Morocco, that the fund is working diligently on a global infrastructure to ensure interoperability between CBDCs issued by national central banks.
The European Central Bank is in the final stage of investigating the digital euro project, which aims to create a digital currency accessible to all citizens of the euro area.
"The dollar suffered a stunning collapse in 2022 in its market share as a reserve currency, presumably due to its muscular use of sanctions," says CEO and co-CIO of Eurizon SLJ Capital.