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Central Bank Digital Currency Adoption Challenges, Solutions, and a Sentiment Analysis

Author

Listed:
  • Peterson K. Ozili

    (Central Bank of Nigeria, Abuja, Nigeria)

  • Sergio Luis Náñez Alonso

    (DEKIS Research Group, Department of Economics, Catholic University of Ávila, Spain)

Abstract

We identify some factors limiting CBDC adoption and some of the possible solutions. We also assess the media sentiment about central bank digital currencies in general as well as about locally issued CBDCs. We find that there is a high correlation between the negative media sentiment about CBDCs in general and locally issued CBDCs. We also find that the negative media sentiment about the eNaira, DCash and Sand Dollar was caused by the existing negative media sentiment about CBDCs in general. However, a positive media sentiment about the eNaira, DCash and Sand Dollar was not caused by the existing positive media sentiment about CBDC in general.

Suggested Citation

  • Peterson K. Ozili & Sergio Luis Náñez Alonso, 2024. "Central Bank Digital Currency Adoption Challenges, Solutions, and a Sentiment Analysis," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 13(1), pages 133-165.
    • Handle: RePEc:cbk:journl:v:13:y:2024:i:1:p:133-165
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    More about this item

    Keywords

    CBDC; eNaira; DCash; Sand Dollar.;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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