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The Impact of Central Bank Digital Currencies on Achieving United Nations Sustainability Goals: A Comparative Analysis

In: Digital Currencies and the Green Economy

Author

Listed:
  • Stefan Bjarni Gunnlaugsson

    (University of Akureyri, Faculty of Business Administration)

  • Kjartan Sigurdsson

    (University of Akureyri, Faculty of Business Administration)

  • Helga Kristjansdottir

    (University of Akureyri, Faculty of Business Administration)

Abstract

This paper examines the role of Central Bank Digital Currencies (CBDCs) in advancing United Nations (UN) Sustainable Development Goals (SDGs). Today, more than 60 central banks are piloting CBDCs. For underserved areas, CBDCs hold potential by providing secure and affordable access to financial services. Despite this potential, CBDC implementation faces challenges. Only three countries—NigeriaNigeria, the Bahamas, and JamaicaJamaica—have launched CBDCs. Low public awareness, cybersecurity worries, and competition from private digital currencies have slowed adoption. Pilot programs in Ecuador and Senegal failed due to technical problems, low participation, and public doubt. These cases show that public trust and supportive policies are crucial. Our findings indicate that CBDCs could aid the UN SDGs when backed by strong policies, public involvement, and suitable infrastructure. Nations wanting to use CBDCs for sustainable development must overcome these hurdles to succeed.

Suggested Citation

  • Stefan Bjarni Gunnlaugsson & Kjartan Sigurdsson & Helga Kristjansdottir, 2025. "The Impact of Central Bank Digital Currencies on Achieving United Nations Sustainability Goals: A Comparative Analysis," Springer Books, in: Ranjan Aneja & Robert Dygas (ed.), Digital Currencies and the Green Economy, chapter 0, pages 111-130, Springer.
    • Handle: RePEc:spr:sprchp:978-981-95-2282-8_6
    DOI: 10.1007/978-981-95-2282-8_6
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