Standard Chartered, in collaboration with PwC China, have co-published a comprehensive white paper detailing the potential advancements in the future of banking, courtesy of Central Bank Digital Currency (CBDC). This report highlights the benefits that CBDCs could offer in retail sectors, international trade, and supply chain finance, as well as their potential to enhance customer loyalty programs and provide innovative supply chain financial solutions.
The study underscores that CBDCs are particularly beneficial for simple retail operations initially. However, to expand their utilization in trade and supply chain finance areas, significant evolution in technology and international collaboration is necessary. The successful execution of this can provide immense advantages, especially to small and medium-sized enterprises. The report identifies four pillars to support these developments: smart contract execution, efficient data…
