CBDC or National Digital currency:
Benefits from the side of Central Bank on issuance of CBDC:
Viability of a CBDC:
Concerns posed:
Conclusion:
There are crucial decisions to be made about the design of the currency with regards to how it will be issued, the degree of anonymity it will have, the kind of technology that is to be used, and so on. There is no doubt that the introduction of National Digital currency prevents the various threats associated with the private-owned cryptocurrencies and take India the next step as a digital economy. But the government has to create necessary safeguards before rolling out. India needs to move forward on introducing an official digital currency.
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