The World Economic Forum Weighs In On CBDC Adoption And DLT Use Cases | Crypto

The World Economic Forum Weighs In On CBDC Adoption And DLT Use Cases

-WEF published its dynamic take on CBDCs in a blog post titled, What are central bank digital currencies (CBDCs)? on August 31, following The Reserve Bank of Australias central banks (RBA) plans to launch a CBDC pilot project.
-On 9 August, The Reserve Bank of Australias central bank (RBA) announced in a statement that it is collaborating on a year-long research project with the Digital Finance Cooperative Research Centre (DFCRC) to explore the innovative use cases and business models of introducing a CBDC in Australia.
-In the blog post, WEF reiterates the European Central Banks (ECB) definition, which describes CBDCs as a risk-free form of currency that is guaranteed by the state while it also predicts that all European states will issue their respective digital euro by mid-decade.
-The blog post continues to explain that CBDC is a safe asset as it does not come with the risks and volatility inherent in cryptocurrencies. Individuals and business entities can also store CBDCs in the central bank or as electronic tokens on mobile devices, prepaid cards, and other forms of digital wallets.

australia cbdc The World Economic Forum Weighs In On CBDC Adoption And DLT Use Cases

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