Central bank digital currency (CBDC) has become one of the most talked-about topics in recent years, with several countries from across the globe considering the possibility of issuing one.
However, this project has often been hampered by a lot of complex challenges, including issues of design, which has prevented any country from launching their CBDC.
The American multinational payments technology company, Visa, has recently published new research which claims that it can create CBDCs that work offline.
According to the official blog post, the payment company reasoned that for the CBDC to effectively serve its purposes, which includes helping the unbanked to gain access to financial products within a country, it needs to have the ability to operate offline.
This ability allows it to be used by individuals who have little or no internet connection, thus, enabling financial inclusion.