Thus, CBDCs need to provide tangible benefits for users to switch from an already working system. For instance, India’s e-rupee plans to target those who don’t have bank accounts, in contrast to UPI, which enables bank-to-bank transfers. Further, UPI doesn’t permit cross-border transactions, but CBDCs can potentially tackle this issue once a global standard is established.
Related posts
-
AKT gains 9% as Akash Network unveils future roadmap at decentralized AI event
Akash Network, a leading player in the decentralized cloud computing sector, has seen its native token,... -
Paraguayan Minister Unveils Future Economic Strategy Centered on Bitcoin Mining for Industrial Transition
Javier Gimenez, from the Paraguayan Ministry of Industry and Commerce, revealed that the government plans to... -
Application-specific blockchains are the future of decentralization
Disclosure: The views and opinions expressed here belong solely to the author and do not represent...