The central bank says a CBDC 'can offer benefits to users in terms of liquidity, scalability, acceptance, ease of transactions with anonymity and faster settlement.' cryptocurrency crypto
India's Central Bank RBI Discusses Digital Currency and CBDC Launch With Minimal Impact on Monetary Policy
“In its basic form, a central bank digital currency provides a safe, robust, and convenient alternative to physical cash,” the Indian central bank described, adding that “Depending on various design choices, it can also assume the complex form of a financial instrument.” The RBI continued: The Indian central bank noted that there are “crucial questions” about the design of a central bank digital currency that must be answered before introducing it. For example, one issue is “whether the CBDC would be general purpose and available for retail use , or would it be for wholesale use .”
Noting that gauging the magnitude of issuance and distribution will help identify “the appropriate underlying technology best suited to handle such operations,” the apex bank detailed:
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