Decentralized CBDCs will most likely pique the interest of the masses much more than their centralized counterparts.
As central bank digital currencies, or CBDCs, continue to garner mainstream traction across the global financial landscape in recent years, almost all central banks are actively researching the benefits and risks of offering a digital currency to the public.
In its most basic sense, a CBDC is a digital form of fiat money, backed by a suitable amount of monetary reserves like gold or foreign currency reserves. Each CBDC unit acts as a secure digital instrument equivalent and can be used as a way of payment, a store of value and an official unit of account. What distinguishes them from stablecoins — similar digital offerings whose value is pegged to fiat — is that they are government-issued and backed by central bank-issued money, making them completely regulated.