Searches for Central Bank Digital Currency ‘CBDC’ soar
Analysis of Google search data reveals that searches for ‘CBDC’ (Central Bank Digital Currencies) exploded 1,041% above average levels in the United Kingdom from September 2022 to an all-time high. ‘CBDC’ searches are also at all-time highs globally and in the United States.
The analysis, by cryptocurrency betting review website Cryptobetting.org, reveals that searches for ‘CBDC’ exploded to over 12 times the average volume in the United Kingdom in September, an unprecedented increase in people searching for digital currencies. The data also reveals that searches for ‘CBDC’ skyrocketed by 1,041% in the United States and 769% worldwide to all-time highs in September 2022.
Google search data from Ahrefs reveals that CBDCs are searched an estimated 106,640 times worldwide each month.
Around 7,370 searches for CBDCs are made from the UK each month, on average.
Google Trends data reveals search interest in CBDCs skyrocketed by 1,136% in the United Kingdom to new all-time highs in September 2022.
Prime minister of the United Kingdom Rishi Sunak advocated for CBDCs last October, encouraging the development of a digital sterling, ‘Britcoin’, as chancellor of the exchequer under Boris Johnson.
According to Google Trends, the ten countries with the highest level of search interest in the term ‘CBDC’ over the past 12 months are:
- South Korea
- Hong Kong
Almost one fifth of global searches come from the United States, which contributes an estimated average 20,680 searches per month.
Searches for ‘CBDC’ skyrocketed by 1041% in the United States to all-time highs in September 2022. This comes as the United States released its first framework which explores the development of digital assets including a US Central Bank Digital Currency, recommending more CBDC research.
In the United States, the top ten jurisdictions with the highest level of search interest in the term ‘CBDC’ over the past 12 months are:
- District of Columbia
- New York
- New Jersey
A spokesperson at Cryptobetting.org, commented on the findings:
“The idea of digital money isn’t new. Bitcoin exploded onto the market with its price skyrocketing over the last few years. As cryptocurrencies grow in popularity and become the norm, central banks provide an alternative. CBDCs are different because it is government-backed digital money. Central banks have realised that they cannot beat Bitcoin, and now they want a piece of the action. The key difference between CBDCs and crypto is that the idea of crypto is to decentralise financial power. CBDCs ensure that the value and control of currency remains in the hands of governments, banks and financial elites, but could also mean widespread adoption of digital banking across nations like never before. With Rishi Sunak appointed as the new UK prime minister, we will likely see a further push for the adoption of CBDCs that we saw when he was in the role of chancellor of the exchequer.”