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by usiic co - Wednesday, 22 March 2023, 06:29 PM

Central Bank Digital Currency (CBDC) is a type of digital currency, backed by monetary institutions, that is intended to have the same stability and convenience as modern fiat currencies. While this type of currency has not yet been fully tested in all scenarios or adopted widely, CBDCs are beginning to gain traction in some countries as an alternative form of currency. They offer fast payments, are secure and virtually impossible to alter or counterfeit, making them attractive for international payments and for countries seeking replacement of their traditional paper currency. For now, however, governments are still exploring different implementations of the technology and their potential benefits for central banks and citizens alike.

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