Many people are still confused about what CBDC really is and why it has become a hot topic in the financial industry. I want to clarify this matter more clearly.

Simply put, CBDC is a digital currency issued by a country's central bank, not other types of digital money we know. It combines both "money" and the "payment system" behind it, making transactions faster, more accurate, and more secure.

What’s interesting is that CBDC is a new option that central banks around the world are starting to develop to support changes in the financial system. For example, Jamaica launched JAM-DEX in 2022, or Nigeria has been using eNaira since late 2021.

An important point is that CBDC is not the same as cryptocurrency. Cryptocurrencies are created by private entities, have highly volatile values, and are not overseen by anyone. In contrast, CBDC is directly controlled by the central bank, so its value is more stable. Compared to cryptocurrencies, which can be easily speculated on, CBDC is designed to be a trustworthy currency for everyday use.

Thailand is not just watching passively. We have the Inthanon project for interbank transactions and are testing the Bang Khun Phrom project for public use. Additionally, major countries like China, India, the United States, Sweden, the United Kingdom, and Canada are all in the process of developing CBDCs as well.

What’s very interesting is that CBDC will impact many parties. Commercial banks will need to adapt, payment service providers will have to find new ways, and cryptocurrency investors will need to assess the upcoming effects.

In summary, CBDC is the future of the financial system, which is quite certain. The question is how it will arrive and how quickly. Understanding this well can help us make better decisions and adapt more effectively in the future.