Here’s Everything You Should Know About Central Bank Digital Currency

  • One of the foremost aspects in design of central bank digital currency refers to wide accessibility. CBDCs should be easily accessible through commonly available channels.
  • The second important detail in how central bank digital currency works would refer to the fact that they are digital.
  • Subsequently, the next critical feature in the design of CBDCs would obviously refer to the fact that they are issued by central banks.
  • It is also important to notice that CBDCs are token-based with two distinct token types. One token is suitable for general public and could support retail transactions. The other type of CBDC token is basically a digital settlement token for settlement and wholesale payment transactions.

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