What is the definition of CBDC and how does it relate to cryptocurrencies?

1 answers

• Mar 07, 2022 · 3 years ago
  CBDC, also known as Central Bank Digital Currency, is a digital form of money issued by a central bank. It is different from cryptocurrencies like Bitcoin because it is backed by a government or central bank and has the same value as traditional fiat currencies. CBDCs are designed to provide a secure and efficient means of payment, while also offering the benefits of digital currencies. They can be used for various purposes, such as making online payments, conducting cross-border transactions, and promoting financial inclusion. CBDCs are seen as a potential solution to improve the efficiency and transparency of financial systems, as well as to address issues such as money laundering and illegal activities.
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