Last week, the Bank of International Settlements (BIS) released a report titled “Gaining momentum — Results of the 2021 BIS survey on central bank digital currencies.” The report explained that both the Covid-19 pandemic and “the emergence of stablecoins and other cryptocurrencies have accelerated the work on CBDCs.” The survey states that 9 out of 10 central banks globally are exploring central bank digital currencies (CBDCs).