Dr. Vasyl Namoniuk

International Economics

Professor

Taras Shevchenko National University of Kyiv

CV: Vasyl Namoniuk is Associate Professor at the Taras Shevchenko National University of Kyiv. He completed PhD in Finance ("Cross-border Bank Mergers and Acquisitions in the Context of Global Competition"). From 2009 to 2011, Vasyl was Associate Professor of International Economics and Deputy Dean for Science at the National University of the State Tax Service of Ukraine. His research focus is on digitalization of international financial markets, financial innovations, internationalization of banking capital, international tax competition. Vasyl has over 60 papers published. He has been a visiting professor at universities in Germany, Portugal, Poland, Lithuania, Hungary, Turkey, and China.

Presenting about:

Central bank digital currencies: regional and country-specific case studies

Abstract: Since 2014, there has been a surge in interest in central bank digital currencies (CBDCs). CBDCs, as a new and deeply rooted concept in the international financial system, have the potential to catalyze a new leap in the technological and financial development of both national payment systems and the economies of many countries. This study aims to examine existing CBDC projects, comparing their development status, underlying technology, and key goals. Now 96 projects in various development stages have been identified. There are 63 projects in the initial (research) stage, which is the highest number among all stages. As well there are already two currencies in use: the Sand Dollar (Bahamas) since 2017 and the e-Naira (Nigeria) since 2021. Countries have been particularly active in researching CBDCs after 2020. In 2021, their number doubled. The most projects, 73, are being implemented for retail payments, with 16 being implemented for interbank payments. Developing countries started 65 CBDCs projects, while the remaining 31 are implemented by developed economies. Almost all developing countries indicates the improve of financial inclusion as the main motivation. Developed economies, by using CBDC, intend to diversify monetary and social policy instruments, as well as payment methods. France's experience is particularly interesting. It tests cross-border payments in joint projects with Singapore, Switzerland, and Tunisia.
These results suggest that the CBDCs projects’ number will continue to growth, particularly in the launch phase.