An Evaluation of Central Bank Digital Currency

The gold standard, which was created as an alternative to fiat currencies, has been tried to be implemented by countries in different periods of history. With the development of technology, the use of cash has decreased and paved the way for innovations to emerge. One of the innovations in the field of payment systems is cryptocurrencies. Crypto coins; can be defined as digital currencies based on mathematical algorithms, that do not lose their value due to inflation and are not affiliated with central institutions such as the central bank. States had to come up with new strategies to prevent the flight of fiat money and adapt to technology in emergencies. One of these strategies has been the Central Bank Digital Currency (CBDC) and studies have been initiated to determine whether the CBDCs can replace traditional money. This study aims to make evaluations in the field of CBDC. As a result, although their research on CBDC continues, very few of them have started and are continuing pilot projects.