Central Bank Digital Currency: an innovation in payments

This paper does not debate the economics or monetary policy questions of a CBDC but instead focuses specifically on the technology–the medium on which the money is issued and how transactions are recorded. Just as the economies, consumer and industry preferences, and political makeups of currency zones comprised of nations and regions differ greatly, there will be no ‘one size fits all’ CBDC. Rather, CBDC will comprise a range of methods for a central bank to offer purchasing power
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