Home  Journals  National Interests: Priorities and Security  4(457) - 2026 April

Comparative analysis of central bank digital currencies (CBDCs) of different countries: Particularities, advantages, and potential risks

Received: 17 April 2025

Accepted: 12 January 2026

Available online: 29 April 2026

Subject Heading: INTERNATIONAL ECONOMIC RELATIONS

JEL Classification: F40, F58, F60

Pages: 141-149

Subject. This article discusses the comparative analysis of central bank digital currencies of different countries.
Objectives. The study aims to examine the theoretical foundations of central bank digital currencies, their features, advantages, and potential risks. It also aims to compare implementation approaches of such digital currencies in different countries, and analyze their technological aspects of implementation.
Methods. For the study, I used the methods of analysis and synthesis.
Results. The article examines advantages and potential risks of central bank digital currencies. It also analyzes approaches to the central bank digital currencies implementation in different countries, including China, Sweden, the Bahamas, and Nigeria.
Conclusions. A careful approach is necessary when choosing a central bank digital currency model, taking into account the specifics of the national economy and financial system of each country. The article proposes a hybrid approach to building a digital currencies international settlement system for Russia.

Keywords: central bank digital currencies, CBDC, cryptocurrencies, cross-border payments, financial technologies, payment systems, monetary policy, financial inclusion, distributed ledger

References:

1. Bossu W., Itatani M., Margulis C. et al. Legal aspects of central bank digital currency. IMF Working Papers, 2020, vol. 20, iss. 254. DOI: 10.5089/9781513561585.001 EDN: GPBYGZ
2. Qian Y. Central bank digital currency: Optimization of the currency system and its issuance design. China Economic Journal, 2019, vol. 12, iss. 1, pp. 1– DOI: 10.1080/17538963.2018.1560526
3. Maslennikov V.V., Fedotova M.A., Sorokin A.N. [New financial technologies change our world]. Finansy: teoriya i praktika, 2017, no. 21, pp. 6–11. (In Russ.) DOI: 10.26794/2587-5671-2017-21-2-6-11 EDN: YQQBRZ
4. Sinel'nikova-Muryleva E.V., Shilov K.D., Zubarev A.V. [Central bank digital currencies: Potential risks and benefits]. Voprosy ekonomiki, 2020, no. 8, pp. 147–159. (In Russ.) DOI: 10.32609/0042-8736-2020-4-147-159 EDN: VWZMIF

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ISSN 2311-875X (Online)
ISSN 2073-2872 (Print)

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