Introduction Digital currencies are not new to the financial system, but innovations around them are changing how payments are made, what money is, and how banking is conducted globally. Central banks obviously are affected by these changes and they are in the mist of determining where they fit among them; and central bank digital currency (CBDC) is one innovation under study and experimentation. Central banks’ interest in CBDC is in part a defensive reaction to fintech firms’ aggressive efforts to develop private digital money networks. These firms have introduced innovative payments systems that provide fast, easy to use payments products to the public, which also can substitute for bank deposits or central bank money. In response, central banks are considering introducing CBDC which also makes digital payments fast, easy, and central bankers would add, safer. Furthermore, CBDC is sometimes heralded as the means to greater financial inclusion for the unbanked population.