9:51
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Last viewed: 3 hrs ago
Uploaded: 16 Jan 2021 (6 years ago) · Shared: 29 Jan 2021
Video Description (from Youtube)
The development of Central Bank Digital Currencies is being accelerated at a rapid pace globally. But as the initiatives are introduced there’s something I just haven’t seen reported upon and it’sabsolutely profound, in this video we find out why.
In December Sweden’s Central Bank, the Riksbank, launched a review into the e-krona’s feasibility in December after a pilot program at the central bank, making the Nordic country a litmus test for digital currencies.
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Explore Topics: Digital Currency, CBDC (2)
What is Digital Currency?
Digital currency (digital money, electronic money or electronic currency) is a type of currency available in digital form. This is in contrast to physical, such as banknotes and coins. It exhibits properties similar to physical currencies, but can allow for instantaneous transactions and borderless
transfer-of-ownership. Examples include virtual currencies, cryptocurrencies, and central bank digital currency (CBDC). Digital money can either be centralized, where there is a central point of control over the money supply, or decentralized, where the control over the money supply can come from various sources. |
What is CBDC?
Central bank digital currency, CBDC or digital currency is the digital form of fiat money. Fiat money being a currency established as money by government regulation, monetary authority or law. The present concept of CBDCs was directly inspired by Bitcoin, but CBDC is different from virtual currency
and cryptocurrency, which are not issued by the state and lack the legal tender status declared by the government. CBDCs are presently in early hypothetical stage, with some proof-of-concept programmes. |
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