The future of money
May 14, 2021
3 minutes
What’s a “central-bank digital currency”?
t’s a state-backed, digital-only currency that is issued and overseen by a central bank. Only one central-bank digital currency (CBDC) is actually in operation so far, a small-scale rollout in the Bahamas last October. But more than 50 central banks, in countries or blocs representing the bulk of global GDP – including China, the US and the UK – are exploring them. A digital currency is simply one that never takes physical form: it remains on a virtual network and is stored and exchanged digitally. Thus it is different from
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