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What is CBDC?
CBDC, or Central Bank Digital Currency, is a type of digital or virtual currency that is issued and regulated by a country’s central bank. Unlike cryptocurrencies such as Bitcoin or Ethereum, which are decentralized and operate without a central authority, CBDCs are centralized digital currencies. They represent the digital form of a nation’s fiat currency (like the dollar, euro, or yen) and are backed by the authority of the country that issues them.
CBDCs aim to bring the convenience and security of digital forms like cryptocurrencies into the regulated banking sector. They have the potential to streamline payments, reduce costs, and increase financial accessibility. However, their implementation also raises important questions about privacy, security, and the broader impact on the financial system.
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The State Bank of Pakistan introduces a policy proposal package for digital currencies, potentially legalizing cryptocurrencies and introducing digital rupee and CBDC. This shift in approach may boost liquidity in…
Legal framework proposal by State Bank of South Asia (SBP) aims to recognize cryptocurrencies, including Bitcoin, as official forms of currency in Pakistan. This shift signals a new attitude, allowing…
U.S. Treasury Department raises concerns about stablecoin market growth, advocating for state-backed CBDCs to replace private stablecoins. Report highlights risks of stablecoins linked to Treasury bills, underlining their role in…
Bitcoin has sparked debates on rethinking traditional money since its inception. Explore the impact of cryptocurrency on challenging the concept of fiat money and the emergence of Central Bank Digital…
Ewolucja systemu finansowego: od tradycyjnych walut do kryptowalut. Artykuł omawia przełomowe odkrycie autora Bitcoina, zmieniające spojrzenie na pieniądz i system finansowy. Analizuje zalety kryptowalut, wskazując na rosnące zainteresowanie nimi jako…
International Air Transport Association (IATA) plans to integrate China's digital yuan into its settlement systems by the end of 2024. This move aims to offer expanded payment options in response…