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Central Bank Blockchain Digital Currency (CBDC) and Cryptocurrency Reserves: Market Shares, Market Strategies, and Market Forecasts, 2022 to 2028

  • Report
  • 238 Pages
  • May 2022
  • Region: Global
  • Wintergreen Research, Inc
  • ID: 5597522
Worldwide central bank digital currency markets are poised to achieve continuing growth as the advantages brought by using new materials are used to decrease the cost of producing lithium-ion batteries. The customization achieved by reducing the quantity of cobalt proportionally inside the cathode is a significant market growth driver. Rapid response to global warming is the primary growth driver.

CBDC will support faster and cheaper cross-border payments. The settlement process moves from two days to several seconds, creating a less costly, more efficient cross border settlement process. The CBDC is the pin-ultimate digital advance, digital currency. The aim is to create a stable value digital currency that can be used for cross border settlements.

Strong Growth of the US and World GDP pushes the need for CBDC, making it more immediate. 

Governments have never had a monopoly on the provision of money. Private systems - unbacked by the government or deposit insurance - regularly sprang up in the past, often to service discrete communities. In the US in the 1800s, for example, railroad and canal companies paid workers in paper “scrip,” redeemable for goods at sponsored stores.

Solid State Batteries drive Economic Growth and the Adoption of Central Bank Digital Currency 


Electric vehicle implementation is anticipated to add $114 trillion to the global economy by 2028 over and above what is part of the world economy now. That will create demand for more cross border settlements - faster, cheaper, more efficient cross-border settlements. The growth that comes from replacing the entire installed base of gas driven vehicles is a once in a lifetime event, providing an enormous boost to the global economy. It makes the US national debt of $30 trillion pale in comparison to what is added to the economy by just this one industry, one of many driven by AI and energy storage implementation.

Electric vehicles are but one aspect of the new industrial revolution. Silicon carbide replaces silicon. Robots replace much of human manufacturing labor. AI, CBDC, autonomous vehicles, robots, air taxis, and a range of new technologies are going to push economic growth far beyond what is even dreamed of today. 

The problem is how to distribute wealth to everyone so they can participate in the economy and drive continuing economic growth. Education of everyone, ongoing education becomes significant, giving everyone enough to eat and have healthcare is significant, as is pushing solutions to combat environmental warming. All this is discussed in the context of CBDCs, creating a digital asset that the central banks can control as a stable currency.

The assumption is that commercial banking will go on as before, lending and serving industries, companies, and people. The Central bank CBDC will manage payments and cross border transactions. 


Key Topics Include:

  • Central Bank Digital Currency (CBDC)
  • Cryptocurrency Reserves
  • Digital Money
  • Blockchain
  • Tokens
  • Cryptocurrency Value 
  • Crypto Decline
  • Fluctuating Values of Cryptocurrency
  • BitCoin
  • Stability of the Currency
  • Commercial Banking
  • Digitization 
  • Cross-Border Settlements
  • Cross Border Payments 
  • Global Economy
  • Electric Vehicles
  • Digital Currency Settlement
  • Reducing Tax Evasion

Table of Contents

1. Digital Currency for Transaction Settlements

1.1 Blockchain as an Electronic List of Connected Records
1.2 US CBDC Instant Payments Operation
1.3 4th Industrial Revolution
1.4 CBDC Digital Financial Revolution
1.5 Implications of CDBC for New Industrial Revolution
1.6 Central Bank Digital Currency
1.7 Commercial Banking Market Description

2. CBDC Central Bank Digital Currency Market Shares and Market Forecasts

2.1 Central Bank Digital Currency CBDC Market Driving Forces
2.1.1 Value of CBDC Digitization of Cross-Border Settlements Payments
2.1.2 CBDC Market Driving Forces
2.2 Central Bank Digital Currency CBDC Blockchain Market Shares
2.3 Central Bank Digital Currency CBDC Market Forecasts
2.3.1 Improvements In Payment Systems
2.3.2 Central Bank Monetary Policy
2.4 Global Economy and Selected Market Segments
2.4.1 Auto Manufacturing Companies
2.4.2 Global Corporates Move $23.5 Trillion Across Countries Annually
2.4.3 US Central Bank Money: Most Trusted
2.4.4 Cryptocurrency Value Decline
2.4.5 Token-Based CBDCs
2.5 Digital Currency CBDC Regional Market Segments
2.5.1 US
2.5.2 US Central Bank Digital Currency (CBDC) Executive Order: Research a Matter of Urgency
2.5.3 China
2.5.4 CBDC for China
2.5.5 India
2.5.6 IBM Blockchain Platform for Supply Chain Financing and Security in India
2.5.7 Japan
2.5.8 UK
2.5.9 Switzerland
2.5.10 Bahamas and Cambodia

3. Global Economy, CBDC, Blockchain, and Stable Currency

3.1 Shifts In Financial Markets, Countries Seek to Further Embrace Digital Technology for Fiscal Control and Cross Border Settlements
3.1.1 Wealthy US Customer Base Assures Leadership In the 4th Industrial Revolution
3.1.2 Fundamental Strength of The US Economy
3.1.3 Elite Players Orchestrate the World Economy
3.2 Federal Reserve Bank of Boston and the Massachusetts Institute of Technology Digital Currency Initiative
3.2.1 US To Issue a Digital Currency CBDC
3.2.2 CBDC Brings Change in Money Supply
3.3 Central Bank of Bahrain and JPMorgan to Work on Digital Currency Settlement Pilot
3.3.1 Bank for International Settlements (BIS)
3.4 Bank for International Settlements (BIS) Core CBDC Technology Options
3.5 Reducing Tax Evasion, Money Laundering, and Fraud with Cryptocurrency
3.5.1 US Cryptocurrency Whole-of-Government Approach Executive Order:
3.5.2 Identifiers Reducing Tax Evasion, Money Laundering, and Fraud
3.6 Bitcoin and Crypto Currencies
3.6.1 Digital Cryptocurrencies
3.6.2 Bitcoin, Ethereum and Other Cryptocurrencies
3.6.3 US Central Bank Crackdown on Digital Currency
3.7 Volatility of the Bit Coin and Similar Crypto Currency
3.7.1 Fluctuating Values of Crypto Currency
3.8 Blockchain Simply Can't Scale
3.8.1 L4S TapestryX
3.8.2 Consistency Issues with Blockchain
3.9 Stable Currency

4. Central Banking Industry - Central Bank Digital Currency

4.1 CBDC Enhances Cross Border Settlement Efficiency
4.2 CBDC Transaction flow
4.3 Blockchain Comparison: Corda, Fabric, and Quorum
4.4 Shift To Digital
4.5 GDP to Debt Gap
4.5.1 AI in Central Banking
4.6 Web 3.0
4.7 Move to Automation: AI and Quantum Computing
4.7.1 Innovation and industry transformation
4.8 Electric Vehicles, Solid State Batteries, and Energy Storage
4.9 Central Banks Adopt Banking as a Service
4.9.1 Hyperledger Fabric Transaction Flow
4.9.2 Hyperledger Fabric vs. Hyperledger Sawtooth
4.10 Banking Regulations

5. Blockchain Banking and Financial Technology Company Profiles

5.1 Accenture
5.1.1 Accenture Interest in CBDC
5.1.2 Accenture
5.2 Ackee Blockchain
5.3 Applied Blockchain
5.4 AWS
5.4.1 Amazon Web Services (AWS) Works with Central Banks Across the Globe to Support Innovation
5.4.2 AWS Aligning CBDC Design Principles with Technical Design Choices
5.4.3 AWS CBDC Technical Design Choices
5.4.4 AWS CBDC Framework
5.4.5 AWS Cloud Computing
5.5 Bank for International Settlements (BIS)
5.6 Bitfury
5.6.1 Bitfury Central Bank Digital Currencies (CBDCs)
5.7 Block.One
5.8 DBS Bank
5.9 The Digital Dollar Foundation
5.9.1 Accenture Partnership with The Digital Dollar Project
5.10 EOS
5.10.1 EOS Web-Based Applications Core Functionality
5.11 European Union Blockchain Observatory & Forum
5.12 Facebook Libra
5.12.1 Libra Payment System Stablecoins (?USD, ?EUR, ?GBP, (?LBR)
5.12.2 Facebook One of Several Companies with a Worldwide Footprint that Can Support an International Currency
5.13 Global Blockchain Association GBA
5.14 Goldman Sachs
5.14.1 Goldman Sachs Group Central Bank CBDC Initiatives
5.14.2 Goldman Sachs Group Research on CBDC Implementation
5.14.3 Goldman Sachs Group Project mBridge
5.15 Influxdata
5.16 Infosys
5.17 Intel, BMW, and Nielsen: Tribe Accelerator
5.18 JPMC
5.18.1 Partior Nodes
5.19 IBM Hyperledger Fabric
5.19.1 IBM Digital Banking Technology: Double and Triple Encryption, Wallets, Apps
5.19.2 IBM Hyperledger Fabric Workflow Automation
5.19.3 IBM Blockchain Networks Give Competitive Advantage
5.19.4 IBM Blockchain Governance: Model Expertise
5.19.5 IBM Hyperledger Fabric
5.19.6 IBM Red Hat® Opensource OpenShift
5.19.7 IBM Addresses Priorities for Financial Services Organizations
5.19.8 IBM CBDC Issues: Net Interest Margins
5.19.9 IBM Blockchain India
5.19.10 IBM Blockchain Platform for Supply Chain
5.20 JP Morgan Chase (JPMC)
5.20.1 JP Morgan’s Blockchain Unit Onyx
5.20.2 JP Morgan Software for ‘Collateral Blockchain Tokenization’
5.21 Microsoft
5.21.1 Microsoft Vision for a Global Network of Connected CBDC Platforms
5.22 World Health Organization Collaborated with Oracle and IBM to create a digital ledger
5.22.1 Oracle Corda Services
5.23 Partior/JP Morgan, DBS Bank, and Temasek
5.24 Quorum
5.24.1 Quorum Zero Knowledge Security Layer (ZSL)
5.25 R3
5.25.1 R3’s CBDC Accelerator and Corda
5.25.2 R3’s Corda Platform Customer Base
5.25.3 Corda Secure Message-Oriented Middleware (MOM) Communication Using Advanced Message Queueing Protocol (AMQP) - A Wire-Level, ApplicationLayer Protocol
5.25.4 Corda Firewall, Bridge/Float Component, Designed for Enterprise
5.25.5 R3 Corda DLT Trust Technology
5.25.6 R3 Corda
5.25.7 R3 Revenue
5.26 Ripple
5.27 SAP
5.27.1 SAP Programmable Money Offers Frictionless Payments
5.27.2 SAP Machine-to-Machine Payments
5.27.3 SAP Next Digital Horizon for Central Banks
5.27.4 SAP Seeks Company Liquidity
5.27.5 SAP Trusted Digital Payments
5.28 Swift
5.28.1 SWIFT Experiments with Accenture
5.29 L4S/TapestryX
5.30 Tata Consultancy Services (TCS)
5.31 Wipro
5.31.1 Wipro and R3 Target Thailand
5.31.2 Wipro Revenue

6. Selected Description of Banks

6.1 The Commercial Banks
6.2 JP Morgan Chase
6.2.1 JPMorgan Onyx
6.3 Barklays
6.3.1 Digital Money
6.3.2 Private Platforms Can Be Risky
6.3.3 ‘Fedcoin’ Features
6.3.4 Barklays CBDC Analysis

List of Figures

Figure 1. Private Money Before Crypto: Chesapeake and Ohio Canal Company Note (1841)
Figure 2. CBDC Implementation Large Bank Interbank Settlement and Cross Border Payments Savings Market Forecasts, Dollars, Worldwide, 2022-2028
Figure 3. Cryptocurrency Price Variation, 2022
Figure 4. Price Volatility of Cryptocurrency: CoinDesk
Figure 5. Price Volatility of Cryptocurrency: Bloomberg
Figure 6. Internal Combustion Engine Vehicle Replacement with Electric Vehicles vs Expected Industry Sales Market Forecasts, Units and Dollars Worldwide, 2022-2028
Figure 7. Internal Combustion Engine Vehicle Replacement with Electric Vehicles Sales Market Forecasts, Dollars Worldwide, 2022-2028
Figure 8. GBA Blockchain Technology Contributes to A Circular Economy
Figure 9. CBDC Design Issues
Figure 10. Benefits of Blockchain Electronic Ledger
Figure 11. Blockchain Use Cases
Figure 12. CBDC Central Bank Digital Currency Speed of Operations
Figure 13. US CBDC Central Bank Digital Currency Initiative Instant Operations Development
Figure 14. CBDC System Elements
Figure 15. Industrial Revolution in Robotic Automation of Agriculture
Figure 16. New Industrial Revolution Market Driving Forces
Figure 17. New Industrial Revolution Market Driving Forces
Figure 18. Janet Yellen, US Treasury Secretary, served on the Federal Reserve’s Policymaking Committee
Figure 19. Banking Industry Products and Services
Figure 20. Banking Industry Activities
Figure 21. US Banking Industry Large Banks
Figure 22. CBDC Implementation Large Bank Interbank Settlement and Cross Border Payments Cost Savings Market Forecasts, Dollars, Worldwide, 2022-2028
Figure 23. Central Bank Digital Currency CBDC Market Driving Forces
Figure 24. Critical Elements Required for CBDC Cross Border Settlement Implementation
Figure 25. Central Bank Digital Currency Market Driving Forces
Figure 26. CBDC and Cross Border Settlements Blockchain and Distributed Ledger Market Shares, Dollars, Worldwide, 2021
Figure 27. CBDC and Cross Border Settlements Blockchain and Distributed Ledger Market Shares, Dollars, Worldwide, 2021
Figure 28. CBDC and Cross Border Settlements Blockchain and Distributed Ledger Market Shares, Dollars, Worldwide, 2021
Figure 29. Large Bank Interbank Settlement and Cross Border Payment Blockchain / DL Market Forecasts, Dollars Shipped, Worldwide, 2022-2028
Figure 30. Global Economy, Total GDP, 2021 - 2028, Market Forecasts, Dollars Worldwide,
Figure 31. Internal Combustion Engine Vehicle Replacement with Electric Vehicles vs Expected Industry Sales Market Forecasts, Units and Dollars Worldwide, 2022-2028
Figure 32. Internal Combustion Engine Vehicle Replacement with Electric Vehicles Sales Market Forecasts, Dollars Worldwide, 2022-2028
Figure 33. Internal Combustion Engine Vehicle Replacement with Electric Vehicles Sales Market Forecasts, Units Worldwide, 2022-2028
Figure 34. Annual Vehicle Sales Market Forecasts, Dollars and Units Worldwide, 2022-2028
Figure 35. Electric Vehicle Adoption Market Forecasts, Dollars and Units Worldwide, 2022-2028
Figure 36. Transactional Cash Management Metrics
Figure 37. Global Payments Infrastructure
Figure 38. Cryptocurrency Price Variation, 2022
Figure 39. Interbank and Wholesale CBDC Projects by Region
Figure 40. CBDC Activity by Region
Figure 41. The US Federal Reserve
Figure 42. The US Federal Reserve Key Functions
Figure 43. The US Federal Reserve Activities
Figure 44. IBM Security Command Center in Bengaluru, India
Figure 45. The Rise of Decentralized Finance
Figure 46. Core CBDC Technology Options
Figure 47. CBDC Access Implementation
Figure 48. Process, Clearing and Settlement Service
Figure 49. CBDC Commercial Deployment and Operation
Figure 50. CBDC Biometrics Personal Identifier
Figure 51. Total Number of Bitcoins and Market Capitalization.
Figure 52. Price Volatility of Cryptocurrency: CoinDesk
Figure 53. Price Volatility of Cryptocurrency: Bloomberg
Figure 54. L4S TapestryX Distributed Ledger Technology (DLT) Target Markets
Figure 55. Blockchain Scaling Solutions Evaluation Criteria
Figure 56. CBDC Enhances Cross Border Settlement Efficiency
Figure 57. Types of Robots
Figure 58. AWS CBDC Transaction Flow
Figure 59. AWS Cloud for CBDC
Figure 60. Blockchain Comparison: Corda, Fabric, and Quorum
Figure 61. Branch Banking is Dying
Figure 62. US Banking Industry Market Employment Decreases in Direct Employment, Forecasts, 2021 to 2027
Figure 63. AI Challenges in Banking
Figure 64. Channels Of Implementing Artificial Intelligence in Central Banking
Figure 65. Quantum Computing Potential for Banking and Finance Investments
Figure 66. Vehicles Sold in 2019 by Manufacturer & Model (US Data)
Figure 67. Banking As a Service (BaaS) comes in to fill the gap
Figure 68. Fabric Network Ordering Service
Figure 69. Example of 40 Banks Worldwide Experimenting with Digital Currency
Figure 70. Accenture CBDC Research Project Areas
Figure 71. AWS Technical Design Issues Impacting the Distributor Role
Figure 72. Components of Technical Design Choices for a CBDC system
Figure 73. AWS Relationship Between Distributor and Competitive Dynamics
Figure 74. Key Principles in CBDC AWS Framework
Figure 75. CBDC: Objectives and Architectural Considerations
Figure 76. AWS CBDC Objectives:
Figure 77. CBDC AWS Design Industry Standard Performance Criteria
Figure 78. CBDC PSP Ecosystem
Figure 79. AWS Benefits of Partner IBM Hyperledger Fabric
Figure 80. EOS Blockchain-Based Functions
Figure 81. EOS Blockchain-Based Features
Figure 82. Global Economy, Total GDP, 2021 - 2028, Market Forecasts, Trillions of Dollars, Worldwide
Figure 83. GBA Blockchain Technology Contributes to A Circular Economy
Figure 84. Internal Combustion Engine Vehicle Replacement with Electric Vehicles vs Expected Industry Sales Market Forecasts, Units and Dollars Worldwide, 2022-2028
Figure 85. Goldman Sachs Group Financial Services Customer Types and Segments
Figure 86. Strengths of Infosys:
Figure 87. Infosys Key Themes:
Figure 88. A Node on Quorum
Figure 89. Quorum Network Architecture
Figure 90. IBM Hyperledger Fabric, Blockchain Technology Functions
Figure 91. IBM Hyperledger Fabric, Blockchain Technology Features
Figure 92. Aspects Of IBM Blockchain Solutions
Figure 93. IBM Hyperledger Fabric Functions
Figure 94. IBM Hyperledger Fabric Features
Figure 95. IBM Positioning of Blockchain for Financial Services Organizations
Figure 96. IBM Positioning of Blockchain for Organizational Restructuring
Figure 97. IBM CBDC Issues
Figure 98. Corda Oracle Services: International Settlements Using Multi-CBDCs
Figure 99. Partior Enterprise Blockchain Platform Partners
Figure 100. Partior Cross Border Payments
Figure 101. Partior - Disrupting Cross Border Payments
Figure 102. Transaction Flow of Fund Transfer in Quorum
Figure 103. R3’s Corda Platform Customer Base
Figure 104. R3 Technology Customer Base
Figure 105. R3 Financial Services Customer Base
Figure 106. R3 Systems Integrators and Cloud Providers Customer Base
Figure 107. R3 Blockchain for Supply Chain Management: Use Cases and Applications
Figure 108. Use Cases of Blockchain/DLT for Supply Chain
Figure 109. R3 Blockchain Supply Chain Systems Functions
Figure 110. L4S DL/Blockchain Features
Figure 111. TapestryX Fundamental DTL Requirements vs Blockchain Capabilities
Figure 112. Wipro Revenue 2001-2021
Figure 113. Project Inthanon: Wipro and R3 Launch Interbank Settlement Blockchain with Digital Currency
Figure 114. Project Inthanon Functions
Figure 115. Leading Banks in the U.S., by Number of Employees
Figure 116. Threats Cryptocurrencies Pose to Financial System Stability

Samples

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Companies Mentioned

  • Accenture
  • Ackee Blockchain
  • Amazon Web Services (AWS)
  • Applied Blockchain
  • Bank for International Settlements (BIS)
  • Barklays
  • Bitfury
  • Block.One
  • BMW
  • DBS Bank
  • EOS
  • European Union Blockchain Observatory & Forum
  • Facebook
  • Global Blockchain Association (GBA)
  • Goldman Sachs
  • IBM
  • Influxdata
  • Infosys
  • Intel
  • JP Morgan Chase (JPMC)
  • L4S
  • Microsoft
  • Nielsen
  • Oracle
  • Partior
  • Quorum
  • R3
  • Ripple
  • SAP
  • Swift
  • TapestryX
  • Tata Consultancy Services (TCS)
  • Temasek
  • The Digital Dollar Foundation
  • Wipro
  • World Health Organization

Methodology

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