Macroeconomic Impact of Digital Currency Implementation

The purpose of the research is to assess the impact of the introduction of Central Bank Digital Currencies (CBDC) on the inflation rate. The case study in the paper is the Bahamas Islands, since this country was the first to introduce its digital currency in 2020. The research is conducted using regression modeling, which is due to the complexity of the relationship between the introduction of CBDC and inflation. The research is based on the hypothesis that the introduction of CBDC can affect the dynamics of inflation. The authors believe that the results obtained will be relevant for developing economies, including Kazakhstan, exposed to both internal and external shocks, such as fluctuations in world commodity prices, macroeconomic instability, etc. The results of the study confirm that the introduction of CBDC affects inflation through changes in the dynamics of money circulation and the structure of the economy. In conclusion, all stages of the implementation of the pilot project "Digital Tenge" in Kazakhstan are considered, demonstrating the expansion of the national ecosystem, the potential of digital currency in social projects, new opportunities for commercial activity and broad prospects for the use of new technologies.