Part 9/11:
Global Trends and Cryptocurrency Parallel
Nigeria is not alone in experimenting with CBDCs or moving toward digital economies. Globally, nearly 90% of central banks are at some stage of developing their own digital currencies, with around 10% already live. Countries like China have launched their digital yuan but with caution—some even imposing expiration dates as a way to encourage adoption.
In the USA and Canada, pilot programs are underway in partnership with major financial institutions. Interestingly, the US Congress has recently considered bills to prohibit a digital dollar, reflecting ongoing debates about privacy, control, and the societal impacts of CBDCs.