Central bank digital currency (CBDC) utilizes technology to represent a country’s official currency in digital form. Unlike decentralized cryptocurrency, CBDC would be centralized and regulated by a country’s monetary authority. Digital fiat currencies or digital base money, CBDC will act as a digital representation of a country’s fiat currency, and will be backed by a suitable amount of monetary reserves. E-Yuan, Digital Euro or Digital USD, ruble or sterling pound are a fact but no one of these countries officially launched such money.

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