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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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Ranked: The 20 Biggest Tech Companies by Market Cap

In total, the 20 biggest tech companies are worth over $20 trillion—nearly 18% of the stock market value globally.

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A portion of the top 20 biggest tech companies visualized as bubbles sized by market cap with Apple as the biggest.

Ranked: The 20 Biggest Tech Companies by Market Cap

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.

The world’s 20 biggest tech companies are worth over $20 trillion in total. To put this in perspective, this is nearly 18% of the stock market value globally.

This graphic shows which companies top the ranks, using data from Companiesmarketcap.com.

A Closer Look at The Top 20

Market capitalization (market cap) measures what a company is worth by taking the current share price and multiplying it by the number of shares outstanding. Here are the biggest tech companies according to their market cap on June 13, 2024.

RankCompanyCountry/RegionMarket Cap
1AppleU.S.$3.3T
2MicrosoftU.S.$3.3T
3NvidiaU.S.$3.2T
4AlphabetU.S.$2.2T
5AmazonU.S.$1.9T
6MetaU.S.$1.3T
7TSMCTaiwan$897B
8BroadcomU.S.$778B
9TeslaU.S.$582B
10TencentChina$453B
11ASMLNetherlands$415B
12OracleU.S.$384B
13SamsungSouth Korea$379B
14NetflixU.S.$281B
15AMDU.S.$258B
16QualcommU.S.$243B
17SAPGermany$225B
18SalesforceU.S.$222B
19PDD Holdings (owns Pinduoduo)China$212B
20AdobeU.S.$206B

Note: PDD Holdings says its headquarters remain in Shanghai, China, and Ireland is used for legal registration for its overseas business.

 

Apple is the largest tech company at the moment, having competed with Microsoft for the top of the leaderboard for many years. The company saw its market cap soar after announcing its generative AI, Apple Intelligence. Analysts believe people will upgrade their devices over the next few years, since the new features are only available on the iPhone 15 Pro or newer.

Microsoft is in second place in the rankings, partly thanks to enthusiasm for its AI software which is already generating revenue. Rising profits also contributed to the company’s value. For the quarter ended March 31, 2024, Microsoft increased its net income by 20% compared to the same quarter last year.

Nvidia follows closely behind with the third-highest market cap, rising more than eight times higher compared to its value at the start of 2023. The company has recently announced higher profits, introduced a higher dividend, and reported that its next-generation GPU chip will start generating revenue later this year.

AI a Driver of the Biggest Tech Companies

It’s clear from the biggest tech companies that involvement in AI can contribute to investor confidence.

Among S&P 500 companies, AI has certainly become a focus topic. In fact, 199 companies cited the term “AI” during their first quarter earnings calls, the highest on record. The companies who mentioned AI the most were Meta (95 times), Nvidia (86 times), and Microsoft (74 times).

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