Postulating the Viability of USA Central Bank Digital Currency’s Financial Inclusion Goal

Many countries are adopting Central Bank Digital Currency (CBDC) in response to other digital currencies like Bitcoins. Nigeria and the Bahamas are among the countries that already have a CBDC, while Sweden, Japan, China, India, and the United States of America are considering incorporating the system. The CBDC financial inclusion goal is a significant milestone for the USA, with over 13 percent of its population underbanked or unbanked. However, CBDC must satisfy other goals like enhancing competition to attain the financial inclusion objective. Moreover, CBDC financial inclusion will create impacts that make it attainable or not, a gap that the current study seeks to explore. The study applies secondary data methodology, relying on scholarly journals, credible websites, and government sources to postulate the viability of USA's CBDC financial inclusion objective. The inadequacy of academic work in the infant CBDC field limited the researcher. The study leaves a gap for other researchers to establish whether technology replacement, updates, existing system integration, research, development, cybersecurity concerns, and other demerits not mentioned herein could undermine CDBC’s financial inclusion goal.