• Home
  • Login
  • Register
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
SUBSCRIBE
No Result
View All Result
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
Currency Insider
No Result
View All Result

Proposed “Digital Rupee” CBDC From India’s Central Bank Raises Privacy Concerns

by CBDC Insider
January 3, 2022
in Asia, Business
Reading Time: 1min read
0
Proposed “Digital Rupee” CBDC From India’s Central Bank Raises Privacy Concerns
Share on FacebookShare on Twitter

A proposed central bank digital currency (CBDC) from India’s central bank, which could get a test run in 2022, has some concerned about the implications for privacy as national governments begin making concrete moves into the digital currency space.

The “digital rupee” pilot could launch as early as April, but many important details have yet to be put into place. It remains unclear what the government’s plans are for centralizing the technology and using intermediaries, and there is currently no privacy law governing the proposal.

Central bank eyes digital rupee launch within months, but plans still unclear

The idea of a cryptocurrency backed by a central bank is one that has been much discussed by world governments recently, but few have taken real steps in that direction. If the plan for the CBDC pilot program (running from April 2022 to March 2023) stays on track, it would be the world’s most significant program of this nature short perhaps of China’s “cyber yuan” effort.

RELATED STORIES

Montenegro’s central bank teams up with Ripple

Montenegro’s central bank teams up with Ripple

February 1, 2023
Amid crypto winter, central banks rethink in-house digital currencies

Amid crypto winter, central banks rethink in-house digital currencies

January 24, 2023

The Reserve Bank of India (RBI), the country’s central bank, seemed to address the privacy concerns about China’s CBDC with its statement on the planned program launch. The bank listed “ease of transactions with anonymity and faster settlement” among the benefits of the planned Indian CBDC. But this relatively short press release was not accompanied by specifics as to exactly how private and anonymous currency holders can expect to be in their transactions.

Read more

Previous Post

India Should Go For Basic Version of its CBDC For Now, Central Bank Says

Next Post

Central Bank Digital Currencies, Regulations Will Be Trends to Watch in ’22

Next Post
Central Bank Digital Currencies, Regulations Will Be Trends to Watch in ’22

Central Bank Digital Currencies, Regulations Will Be Trends to Watch in ’22

© 2022 CBDC Insider

No Result
View All Result
  • Home
  • Map
  • Reading Library
  • CBDC Think Tank
  • Partners
    • DEA
  • Login
  • Register