CBDCs could make payment systems - more efficient by reducing transfer and settlement times and thus stoking economic growth. Some central banks think CBDCs could also counter the rise of private currencies such as Facebook's Libra. CBDCs could address problems like inefficient payments that cryptocurrencies seek to solve while maintaining state monopolies over currency. In the era of negative interest rates, CBDCs are also seen as offering a tool to control how businesses and people use money. This Panel of Central Bankers and CBDC experts discuss the pros and cons and global developments in CBDC.