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Central Bank Digital Currency is a digital currency that is created by a central bank and maintained at the same time as the People’s Bank of China or the US Federal Reserve. These digital currencies represent the “fiat currency” of that particular bank. The central bank is responsible for the formulation as well as transmission of the monetary policy in addition to the regulation of the member banks. The concept of CBDC has been inspired by but is completely different from the actual crypto coins such as Bitcoin, Ethereum or more. Many more central banks around the globe are planning for CBDCs but none has been published yet.

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