At a time when enterprises are moving fast toward the adoption of blockchain technologies, central banks are exploring digital currencies as an alternative to replace their cash in circulation. A Central Bank Digital Currency (CBDC) is the digital form of fiat currency. Not to be confused with cryptocurrency, CBDCs are different in many ways as they are regulated by the government, monetary authority, or law. As it is backed by the government, a central bank can establish a CBDC account instead of printing the money.
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