Blockchain: Is it a hype or a hoax?  43

Table 1.1  CBDC projects

CBDC project name

Country

Status

Insights

Website

Sand Dollar

Bahamas

Launched for the public on

20 October 2020

World’s first country to

adopt CBDC for all

residents

https://www.sanddollar.bs

Bakong

Cambodia

Launched on 28 October

2020

Aim to promote

transactions in Cambodia

Riels over US Dollars

https://bakong.nbc.org.kh/

DC/EP (digital

Currency/Electronic

Payment)

Mainland China Advanced level of Trail

Preparing for widespread

domestic use of DC/EP

during the Beijing 2022

Winter Olympics.

N/A

E-hryvnia

Ukraine

NBU (National Bank of

Ukraine) is still evaluating

the possibility of CBDC

issuance

E-hryvnia should be

technically feasible, but

there are doubts over its

process disruption and

financial stability benefits

https://bank.gov.ua/admin_uploads/article/

Analytical%20Report%20on%20E-hryvnia.

pdf?v=4

e-peso

Uruguay

Successful pilot but issues

are still under

consideration

Banco Central del Uruguay

(BCU) is still considering

full-scale issuance of public

e-peso

https://www.bis.org/events/eopix_1810/

licandro_pres.pdf

E-Krona

Sweden

Under review that is

expected to complete by

November 2022

Sweden is seeking to

implement a retail digital

currency to replace Swish

https://www.riksbank.se/en-gb/

payments--cash/e-krona/

E-Won

Korea

Around the end of 2022

post successful testing

High possibility of the

issuance of CBDC in 2022

https://www.bok.or.kr/portal/bbs/B0000232/

view.do?nttId=10062867&menuNo=200725