CBDC News

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.

More News

Central Bank Digital Currencies vs. Gold: Will CBDCs Impact the Price of Precious Metals?Centrally issued digital currencies (CBDCs) have sparked much controversy and speculation regarding their impact on the precious…

Digital Currencies Issued by Central Banks – Revolution in the Financial SystemCentral banks worldwide are intensively developing Central Bank Digital Currencies (CBDCs), which are digital equivalents of traditional national currencies.…

The People’s Bank of China Achieves Milestone in the Development of Digital CurrencyThe People’s Bank of China (PBOC) has recently announced reaching a milestone of 100 billion yuan (13.9 billion…

HKMA Announces New Project in Central Bank Digital Currency Wholesale (wCBDC)The Hong Kong Monetary Authority (HKMA) has announced the launch of a new project named Ensemble, which is part of…

HKMA Supporting Tokenization Market Development through Project EnsembleThe Hong Kong Monetary Authority (HKMA) has initiated an ambitious project aimed at supporting the development of the tokenization market by introducing a…

The Hong Kong Central Bank Introduces the wCBDC Project “Project Ensemble”The central bank of Hong Kong, known as the Hong Kong Monetary Authority (HKMA), has announced the launch of the…