Central Bank Digital Currencies (CBDCs) work on a blockchain like bitcoin, but are issued central government bank. A pretty awful idea in my opinion, as the government can just freeze your assets, but some are already in existence, and it’s fairly obvious other countries will have them.
Nigeria has the eNaira https://enaira.gov.ng/about/faq China is trialing a CBDC https://www.centralbanking.com/central-banks/currency/digital-currencies/7953418/chinas-cbdc-spending-surpasses-100-billion-yuan and, at least to Chinese media, they are widely used. The EU is looking into CBDCs https://www.e cb.europa.eu/”paym/digital_euro/html/index.en.html The UK too https://www.bankofengland.co.uk/research/digital-currencies The USA is looking at them too https://www.whitehouse.gov/ostp/news-updates/2022/09/16/technical-possibilities-for-a-u-s-central-bank-digital-currency/ Unfortunately CBDCs are coming, and are already in use in the whole of Nigeria. I know GnuCash only supports currencies defined by some ISO standard, but I suspect that the CBDCs will be rolled out much quicker than any ISO standard will be revised. Are CBDCs something the developers will support, or will they just be considered the same as the currency they are supposed to be 1:1 backed with? Personally I would not trust them as much as the underlying currency, so would want to track them independently when they are inevitably bought into the UK. It seems the problem could be solved by allowing users to add additional currencies. Dave -- Dr. David Kirkby, Kirkby Microwave Ltd, drkir...@kirkbymicrowave.co.uk https://www.kirkbymicrowave.co.uk/ Telephone 01621-680100./ +44 1621 680100 Registered in England & Wales, company number 08914892. Registered office: Stokes Hall Lodge, Burnham Rd, Althorne, Chelmsford, Essex, CM3 6DT, United Kingdom _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
