A new IBM (NYSE:IBM) research report finds most polled central banks believe they should issue a wholesale central bank digital currency (CBDC), although they remain uncertain if blockchain can provide sufficient cost and efficiency benefits.

The report released on Friday and conducted by IBM and OMFIF, an independent central bank think thank, examines opinions among 21 central banks between July and September on the topic of CBDCs and distributed ledger technology.

Out of the 21 respondents, 38 percent are already testing a whole CBDC for inter-bank transactions, the research find. Although a majority of the respondents are currently not active in the field, the report said “most survey respondents believe a wholesale CBDC should be issued by the central bank.”

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