India's Digital Currency - CBDC Explained
Update: 2023-06-16
Description
A new form of money has been gaining tremendous fame. People have made millions or lost millions because of it. Can you guess which new currency we are talking about? Yes, it's cryptocurrency. Along with crypto, lots of digital assets have sprung to life and 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.
Let us answer the following three things about CBDC
1. What exactly is CBDC?
2. Have other countries implemented this?
3. What are some of its challenges when it comes to the implementation of CBDC?
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.
Let us answer the following three things about CBDC
1. What exactly is CBDC?
2. Have other countries implemented this?
3. What are some of its challenges when it comes to the implementation of CBDC?
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