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Rachel Welch

09 November 2022 150 Read Crypto

What Are CBDCs?

CBDCs are digital currencies issued by central banks. They are managed on a digital ledger, which may not be a blockchain. These currencies are considered revolutionary and represent a major change in the global financial system. As such, the financial world is left with a number of questions.

CBDCs are a modern representation of central bank money, which can be used for payments. They are similar to cash, but their technology is more advanced. They can be used to facilitate cross-border payments and international cooperation. As a result, some governments are experimenting with the technology to provide citizens with access to digital money.