Central Bank Digital Currency: Perspective from Analysis of Opportunities and Challenges

Abstract

This research article focuses on an overview of central bank digital currency (CBDC) and its opportunities and challenges. The author uses qualitative research methods to present its effects on the traditional banking system, financial activities, currency, privacy, monetary policy, and the opportunities and challenges posed when developing CBDCs. From the research results, the implication for Vietnam is that financial agencies, state banks, and financial institutions must cooperate closely when discussing and implementing CBDC to ensure safety and efficiency. Ensuring the security and use of CBDC in CBDC management is critical and requires careful consideration of compatibility, risk management, privacy, and data protection. Continuous collaboration and research on CBDC is crucial to ensuring the sustainability and safety of the global financial system.