In recent years, the sphere of digital currencies has been the subject of lively discussion in the global economic community. Particular attention is paid to the concept of Central Bank Digital Currency (CBDC), which represents a digital form of a country’s fiat currency, issued and regulated by its central bank.
A CBDC is a digital form of a nation’s currency, issued and controlled by the country’s central bank. It’s not the same thing as a cryptocurrency, although they both utilize blockchain technology. Unlike cryptocurrencies, CBDCs are not decentralized and are subject to the same monetary policy as traditional forms of currency.
Central Bank Digital Currencies represent an innovative approach to monetary policy that could bring about substantial changes in the global financial system. However, despite potential advantages, it’s vital to thoroughly study and assess all possible risks and issues that could arise when transitioning to CBDCs.
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