What is central bank digital currency (CBDC)?

Date:2023-01-06
Central Bank Digital Currency (CBDC) is a form of digital currency issued and backed by a country’s central bank. CBDC is meant to bridge the gap between traditional currencies and digital payments, allowing users to store, transfer and spend money directly from a digital wallet. It serves as a substitute to the current fiat money system, providing the same security and efficiency features of traditional central bank-backed currencies but with improved safety and privacy features.
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