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Visualized: The State of Central Bank Digital Currencies

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Visualized: The State of Central Bank Digital Currencies

Central banks around the world are getting involved in digital currencies, but some are further ahead than others.

In this map, we used data from the Atlantic Council’s Currency Tracker to visualize the state of each central banks’ digital currency effort.

Digital Currency – The Basics

Digital currencies have been around since the 1980s, but didn’t become widely popular until the launch of Bitcoin in 2009. Today, there are thousands of digital currencies in existence, also referred to as “cryptocurrencies”.

A defining feature of cryptocurrencies is that they are based on a blockchain ledger. Blockchains can be either decentralized or centralized, but the most known cryptocurrencies today (Bitcoin, Ethereum, etc.) tend to be decentralized in nature. This makes transfers and payments very difficult to trace because there is no single entity with full control.

Government-issued digital currencies, on the other hand, will be controlled by a central bank and are likely to be easily trackable. They would have the same value as the local cash currency, but instead issued digitally with no physical form.

Central Bank Digital Currencies Worldwide

105 countries are currently exploring centralized digital currencies. Together, they represent 95% of global GDP. The table below lists the data used in the infographic.

CountryStatusUse Case
NigeriaLaunchedRetail
The BahamasLaunchedRetail
JamaicaLaunchedRetail
AnguilaLaunchedRetail
Saint Kitts and NevisLaunchedRetail
Antigua and BarbudaLaunchedRetail
MontserratLaunchedRetail
DominicaLaunchedRetail
Saint LuciaLaunchedRetail
Saint Vincent and the GrenadinesLaunchedRetail
GrenadaLaunchedRetail
SwedenPilotRetail
LithuaniaPilotRetail
UkrainePilotUndecided
KazakhstanPilotRetail
RussiaPilotRetail
ChinaPilotBoth
ThailandPilotBoth
Hong KongPilotBoth
South KoreaPilotRetail
Saudi ArabiaPilotWholesale
United Arab EmiratesPilotWholesale
SingaporePilotWholesale
MalaysiaPilotWholesale
South AfricaPilotBoth
CanadaDevelopmentBoth
BelizeDevelopmentUndecided
HaitiDevelopmentBoth
VenezuelaDevelopmentBoth
BrazilDevelopmentRetail
TurkeyDevelopmentRetail
IranDevelopmentRetail
BahrainDevelopmentWholesale
IndiaDevelopmentBoth
MauritiusDevelopmentBoth
BhutanDevelopmentBoth
CambodiaDevelopmentRetail
IndonesiaDevelopmentBoth
PalauDevelopmentBoth
AustraliaDevelopmentBoth
JapanDevelopmentBoth
SpainDevelopmentRetail
FranceDevelopmentBoth
NetherlandsDevelopmentRetail
SwitzerlandDevelopmentWholesale
ItalyDevelopmentUndecided
GermanyDevelopmentUndecided
EstoniaDevelopmentRetail
LebanonDevelopmentRetail
IsraelDevelopmentRetail
Euro AreaDevelopmentBoth
United StatesResearchRetail
MexicoResearchRetail
GuatemalaResearchUndecided
HondurasResearchUndecided
Trinidad andd TobagoResearchUndecided
ColombiaResearchUndecided
PeruResearchUndecided
ParaguayResearchUndecided
ChileResearchRetail
IcelandResearchRetail
UKResearchBoth
MoroccoResearchRetail
GhanaResearchRetail
NamibiaResearchUndecided
EswatiniResearchBoth
MadagastarResearchRetail
ZimbabweResearchUndecided
ZambiaResearchUndecided
TanzaniaResearchUndecided
RwandaResearchUndecided
UgandaResearchUndecided
KenyaResearchRetail
TunisiaResearchWholesale
OmanResearchUndecided
KuwaitResearchRetail
JordanResearchUndecided
GeorgiaResearchRetail
BelarusResearchUndecided
NorwayResearchRetail
Czech RepublichResearchUndecided
PakistanResearchRetail
NepalResearchUndecided
BangladeshResearchUndecided
MyanmarResearchUndecided
LaosResearchBoth
VietnamResearchUndecided
MacauResearchUndecided
TaiwanResearchBoth
PhilippinesResearchRetail
New ZealandResearchRetail
VanuatuResearchUndecided
FijiResearchUndecided
TongaResearchUndecided
PalestineResearchRetail
JordanResearchUndecided
AustriaResearchWholesale
HungaryResearchRetail
BermudaInactiveUndecided
Sint MaartenInactiveRetail
CuraçaoInactiveRetail
ArgentinaInactiveUndecided
UruguayInactiveRetail
DenmarkInactiveRetail
AzerbaijanInactiveUndecided
EgyptInactiveUndecided
North KoreaInactiveUndecided
FinlandInactiveRetail
EcuadorCancelledRetail
SenegalCancelledRetail

When aggregated, we can see that the majority of countries are in the research stage.

central bank digital currencies by status

We’ve also divided the map by region to make viewing easier.

Africa

Africa digital currencies

Asia

Asia digital currencies

Europe

Europe digital currencies

Middle East

Middle East digital currencies

South America

South America digital currencies

North America

North American digital currencies

What are the Benefits?

A major benefit of government-issued digital currencies is that they can improve access for underbanked people.

This is not a huge issue in developed countries like the U.S., but many people in developing nations have no access to banks and other financial services (hence the term underbanked). As the number of internet users continues to climb, digital currencies represent a sound solution.

To learn more about this topic, visit this article from Global Finance, which lists the world’s most underbanked countries in 2021.

The 9%

Just 9% of countries have launched a digital currency to date.

This includes Nigeria, which became the first African country to do so in October 2021. Half of the country’s 200 million population is believed to have no access to bank accounts.

Adoption of the eNaira (the digital version of the naira) has so far been relatively sluggish. The eNaira app has accumulated 700,000 downloads as of April 2022. That’s equal to 0.35% of the population, though not all of the downloads are users in Nigeria.

Conversely, 33.4 million Nigerians were reported to be trading or owning crypto assets, despite the Central Bank of Nigeria’s attempts to restrict usage.

Status in the U.S.

America’s central bank, the Federal Reserve, has not decided on whether it will implement a central bank digital currency (CBDC).

Our key focus is on whether and how a CBDC could improve on an already safe and efficient U.S. domestic payments system.
– Federal Reserve

To learn more, check out the Federal Reserve’s January 2022 paper on the pros and cons of CBDCs.

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What Would $5,000 Invested in Nvidia Be Worth Today?

Small fortunes have been made for those investing in Nvidia stock. But how much would have they earned if they bought before it skyrocketed?

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What Would $5,000 Invested in Nvidia Be Worth Today?

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Investing in Nvidia has been highly lucrative, especially for investors who got in early.

As America’s largest chipmaker, its stock price has soared given its critical role in powering AI. Last year alone, its share price jumped 272%, vaulting it into becoming one of the world’s most valuable companies.

This graphic shows how much a $5,000 investment in Nvidia would have grown over time, based on data from Yahoo Finance.

Investing in Nvidia Before the AI Boom

Below, we show how much an investment in Nvidia would have increased in value over the last several decades:

Year Invested (January 1st)Stock PriceStarting ValueValue Today (as of Feb 15, 2024)
2000$0.77$5,000$4,718,052
2010$3.85$5,000$943,610
2015$4.80$5,000$756,854
2020$59.11$5,000$61,460
2023$195.37$5,000$18,595

For those who bought in 2000, a $5,000 investment would be worth over $4.7 million today, with Nvidia’s stock price rising 94,261% over the time period.

At the time, Nvidia had just invented its graphics processing unit (GPU), which allowed computer graphics to render more seamlessly in video games and video editing. These high-performance units complete complex computing tasks, and Nvidia was creating leading technology at the time.

Over the last decade, Nvidia has increasingly focused on AI technology, with key developments launching as early as 2012. Yet it was not until 2020 when its share price really began to soar as the company’s end customer segments increasingly became data centers and cloud computing, alongside video games.

In fact, since 2020 alone, its share price has soared 1,129%—making a $5,000 investment worth twelve times as much today.

So far this year, its stock price shows no sign of stopping, driven by its outsized role in the AI chipmaking market. Roughly 70% of all chips are sold by Nvidia, outpacing key competitor AMD by a landslide.

The company’s Q4 revenues topped $22 billion, setting another historical record, amounting to a 265% year-over-year increase in revenues. In 2023, Nvidia sold 2.5 million chips with customers including OpenAI, Microsoft, Meta Platforms, and Alphabet. The price range for these chips can span anywhere from $16,000 to $100,000.

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