What is Central Bank Digital Currency (CBDC)?

Central Bank Digital Currency is the digital form of Cash or fiat currency.

There are two types of CBDC : Wholesale and Retail

Wholesale CBDC is for financial institutions & Retail CBDC is for Consumers.

CBDC is also based on blockchain technology like crypto but it is regulated by central banks.

Cheaper currency management is the biggest advantage of CBDC adoption.

CBDC will offer faster, cheaper and secure transaction system.

Many countries are exploring the potential of CBDC to be a part digital transformation.

9 out of 87 countries have already launched their CBDC.

This 9 countries include Nigeria, The Bahamas and 7 other countries in Eastern Caribbean.

Lets find out which countries are currently Developing & Testing CBDC.

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