The Impact of Central Bank Digital Currencies on Achieving United Nations Sustainability Goals: A Comparative Analysis

Stefan Bjarni Gunnlaugsson (), Kjartan Sigurdsson () and Helga Kristjansdottir ()
Additional contact information
Stefan Bjarni Gunnlaugsson: University of Akureyri, Faculty of Business Administration
Kjartan Sigurdsson: University of Akureyri, Faculty of Business Administration
Helga Kristjansdottir: University of Akureyri, Faculty of Business Administration

Chapter Chapter 6 in Digital Currencies and the Green Economy, 2025, pp 111-130 from Springer

Abstract: Abstract This paper examines the role of Central Bank Digital Currencies (CBDCs) in advancing United Nations (UN) Sustainable Development Goals (SDGs). Today, more than 60 central banks are piloting CBDCs. For underserved areas, CBDCs hold potential by providing secure and affordable access to financial services. Despite this potential, CBDC implementation faces challenges. Only three countries—NigeriaNigeria, the Bahamas, and JamaicaJamaica—have launched CBDCs. Low public awareness, cybersecurity worries, and competition from private digital currencies have slowed adoption. Pilot programs in Ecuador and Senegal failed due to technical problems, low participation, and public doubt. These cases show that public trust and supportive policies are crucial. Our findings indicate that CBDCs could aid the UN SDGs when backed by strong policies, public involvement, and suitable infrastructure. Nations wanting to use CBDCs for sustainable development must overcome these hurdles to succeed.

Keywords: Bitcoin; Decentralized cryptocurrencies; Real-time transactions; Transaction costs; Central Bank Digital Currencies (CBDCs) (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-95-2282-8_6

Ordering information: This item can be ordered from
http://www.springer.com/9789819522828

DOI: 10.1007/978-981-95-2282-8_6

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().