Reports of CBDC

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Second Report – Issuance of a Central Bank Digital Currency in Chile


This second report outlines the work carried out by the Central Bank of Chile following the publication of its First Report on the preliminary assessment of issuing a Central Bank Digital Currency (CBDC). The issuance of a CBDC has implications that go beyond the role of the Central Bank; therefore, advancing in the analysis and study of a CBDC requires gathering the perspectives of other public and private stakeholders involved in the payment system, as well as other interested parties. This second report reflects the outcome of this dialogue process by presenting motivations, analyzing and collecting information on potential use cases and benefits of a CBDC, as well as identifying challenges and potential risks. Based on the results of this dialogue process, along with other activities undertaken, the Central Bank of Chile has decided to deepen the exploration of CBDCs and move toward an applied phase. This decision should in no way be interpreted as a commitment to issue a CBDC in the future.

 

First Report – Issuance of a Central Bank Digital Currency in Chile


This report presents a preliminary assessment of the potential benefits and challenges associated with the issuance of Central Bank Digital Currencies (CBDCs). In recent years, there has been a marked increase in the digitalization of transactions and payments, a phenomenon that includes both the adoption of new technologies and the entry of new participants. In the view of the Central Bank of Chile, the issuance of a retail CBDC could help maximize the benefits of technological transformations while mitigating the associated risks. However, there is still insufficient information to make a definitive decision regarding the issuance of a CBDC. Therefore, along with the publication of this report, a process of dialogue and consultation will begin with various stakeholders from both the public and private sectors.