Central Bank Digital Currency

A Cbdc Is A Digital Form Of A Country’s Fiat Currency Issued By Its Central Bank. It May Be Fresh Currency, Or It May Replace Existing Money In The System. Cbdc May Be Used For Peer-To-Peer Payments Or For Transactions Between Consumers And Merchants. It Can Also Enable Transactions Between Commercial Banks And Clearing Houses (Wholesale Cbdc) In The Wholesale Interbank Market, Possibly Streamlining Domestic Or Cross-Border Interbank Payments.

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Lots of digital assets are making an impact on the way money moves. In the recent Union Budget, the government of India announced its very own digital currency. The Central Bank Digital Currency, or CBDC, was introduced in India within this ongoing fiscal year.

It is not obvious yet why the government would launch digital currencies that would make online transactions untrackable

From various public announcements, some broad themes emerge on how other central banks have dealt with virtual currencies