Flow-er
Active member
The CBDC projects have been taken by many countries. The Central banks digital currency is a digital form of the fiat currency and it's been adopted by many countries including African countries. The digital form of the fiat currency becomes very necessary when the world is gradually shifting away from the paper form of Financial transactions to the digital channel. The Bank of Canada has also decided to launch its CBDC project in partnership with the Massachusttes institute of technology (MIT). Both institutions would look into the methodology that would best sooth the CBDC project. Massachusettes institute of technology was linked with many CBDCs projects and that's why it was made the choice by the Bank of Canada.
The CBDCs are digital form of fiat currencies that is controlled by the government of the country. In other words, it's a centralized mean digital currency unlike cryptocurrency. I need clarification on a particular mystery on the China CBDC project. It was made known that the e-CNY would use the blockchain technology with smart contract enabled features. They will make the digital yuan a cryptocurrency because it will be decentralized by the virtue of the blockchain and smart contract Integration.
Can anyone clarify this?
The CBDCs are digital form of fiat currencies that is controlled by the government of the country. In other words, it's a centralized mean digital currency unlike cryptocurrency. I need clarification on a particular mystery on the China CBDC project. It was made known that the e-CNY would use the blockchain technology with smart contract enabled features. They will make the digital yuan a cryptocurrency because it will be decentralized by the virtue of the blockchain and smart contract Integration.
Can anyone clarify this?