1、In collaboration with AccentureModernizing Financial Markets with Wholesale Central Bank Digital Currency(wCBDC)A P R I L 2 0 2 4I N S I G H T R E P O R TThis report is interactiveLook out for this icon for pages that can be interacted with To ensure interactive capability,please download and open t

2、his PDF with Adobe Acrobat.Contents 2024 World Economic Forum.All rights reserved.No part of this publication may be reproduced or transmitted in any form or by any means,including photocopying and recording,or by any information storage and retrieval system.Disclaimer This document is published by

3、the World Economic Forum as a contribution to a project,insight area or interaction.The findings,interpretations and conclusions expressed herein are a result of a collaborative process facilitated and endorsed by the World Economic Forum but whose results do not necessarily represent the views of t

4、he World Economic Forum,nor the entirety of its Members,Partners or other stakeholders.Images:Getty Images,Midjourney,UnsplashForeword 03Preface 04Executive summary 05Introduction 061 Foundational key concepts 072 Wholesale financial markets use cases 103 The digital money continuum 124 wCBDC initia

5、tives 165 Industry challenges 196 Areas of differentiated value 227 Persistent industry challenges 418 Trade-offs and considerations 589 RTGS systems 6210 Alternative payment instruments 6411 Multi-token and multi-system future 73Conclusion 75Contributors 76Endnotes 79Modernizing Financial Markets w

6、ith Wholesale Central Bank Digital Currency2ContentsForewordOver 98%of the global economys central banks are researching,experimenting,piloting or deploying central bank digital currency(CBDC)to determine how to modernize the capabilities of and improve access to central bank money(CeBM).1 An opport