Central Bank Digital Currency (CBDC)

Central Bank Digital Currency (CBDC) is a digital form of a country’s official currency, issued and regulated by its central bank. Unlike cryptocurrencies like Bitcoin, which are decentralized, CBDCs aim to provide a stable, secure alternative for payments and transactions. They can be accessed using digital wallets, making transactions faster and potentially safer. CBDCs can help streamline the financial system, promote financial inclusion, and enhance monetary policy effectiveness. They represent an evolution in how we interact with money, adapting to the growing digital economy while ensuring government oversight and control.