Mastercard's platform—or "sandbox" in tech parlance—will let central banks issue digital versions of their currency in a controlled environment, and test how those currencies plug into existing bank and payment networks, and to see if they are practical for consumers to buy goods and services.
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Mastercard launches digital currency kit for central banks
The Mastercard initiative comes at a time of growing interest in digital currency among central banks. A 2018 survey by the International Monetary Fund, cited by the Wall Street Journal, found government bankers are experimenting with the technology as a way to lower costs and to blunt the rise of private cryptocurrencies like Bitcoin. A more recent survey by the Bank for International Settlements found that 80% of the world's central banks are engaged in some form of digital currency research.
