Status : Verified
| Personal Name | Gonzales, Denielle C. |
|---|---|
| Resource Title | The future direction of Central Bank Digital Currency (CBDC) in the Philippines: a technology foresight through scenario building |
| Date Issued | 7 January 2025 |
| Abstract | Central Bank Digital Currency (CBDC) is a relatively new concept being explored across the world, with the potential to reshape and drive technological advancement in the financial landscape, particularly in the payment systems. Over the years, extensive research has been conducted in exploring the future applications of CBDC. However, challenges surrounding technological, legal, and economic factors must be carefully considered before moving forward with issuance. The study aims to identify factors that could contribute to the possible launching of CBDC in the Philippines, it includes i. strong partnerships with stakeholders, ii. robust technological infrastructures, iii. sound legal and regulatory framework and iv. widespread user adoption. It also examines the benefits and risks resulting from the introduction of CBDC. The study utilizes foresight tools such as morphological analysis, scenario building, expert opinion and strategic management tools like: SWOT, TOWS, PESTLE Analysis to develop plausible scenarios. Data is collated from related literature and experts to gather information and provide recommendations. The research introduced five plausible scenarios: Guardian of the Economy, The rise of wholesale CBDC, Peso 2.0: The Digital Revolution, Economic whirlwind: Pitfall to watch for! Status Quo: Cash is king!, and Focus Shift: New Dominant Trends Emerge. The outcome of each scenario is plausible, however, in terms of level of accuracy, there remains uncertainty as to whether all the identified macroeconomics factors could directly affect the future direction of CBDC in the country. Through scenario building techniques, it can be concluded that the Philippines is capable and ready to adopt wholesale CBDC. Careful planning, thorough study and effective execution is necessary to ensure successful implementation; however, retail CBDC may require further exploratory research to assess its feasibility and applicability in the Philippines. |
| Degree Course | Master of Technology Management |
| Language | English |
| Keyword | Wholesale CBDC, Retail CBDC, Project Agila |
| Material Type | Thesis/Dissertation |
Preliminary Pages
117.58 Kb
Category : P - Author wishes to publish the work personally.
Access Permission : Limited Access