No central bank is currently working on a Primal Bank Digital Currency, or CBDC, that can exist used by consumers, according to enterprise blockchain firm, R3.

A contempo report by R3 claims that no central bank is currently pursuing the evolution of a retail CBDC. As the authors of the document explain, CBDC's are divided into wholesale and retail: the first is limited to commercial banks while the latter can involve corporations, modest businesses, and even individuals.

The report explains that a wholesale CBDC is just a new modernization pace for central banks, while a retail CBDC "is an opportunity to extend access to digital central bank coin." Interestingly, the study conspicuously states that all the CBDC projects currently pursued by key banks worldwide aim to create wholesale CBDC systems:

"Unlike wholesale CBDC, retail CBDC does not currently exist in production. Retail by and large refers to the general public, corporates and certain fiscal institutions that currently do non have access to central banking concern money. As a result, experiments in the space are incredibly novel. However, central banks beyond the globe [...] are beginning to commit resources towards implementing retail CBDC."

The CBDC space sees rapid development

While such systems may differ significantly from the "digital cash" that many expected them to be, CBDCs are beingness widely researched and developed around the world. One specially famous example is China's digital currency, which according to mid-Apr reports, is at present being tested in four different cities in the country.

Furthermore, as Cointelegraph recently reported, rumors suggest that Starbucks and McDonald'south are also currently poised to accept China'southward CBDC.