Flow-er
Active member
The CBDC( Central Bank Digital Currency) projects is a global practice and most of the countries are tapping into the fortune offered by offering digital payments. It's the digital version of the fiat currency. The Chinese leads the CBDC project and other countries are following their lead. All the countries are creating the digital version of their fiat currency.
The People’s Bank of China are currently using the Chinese digital yuan as payment in the Beijing Winter Olympics . The major aim of using the Chinese digital yuan as payment is to test rub the project.
The Central Bank Digital Currency as created lots of controversies among the crypto enthusiast. Even as I write, I am yet to have a grasp on the functionality of the CBDC projects. Many believed that the CBDC is a form of cryptocurrency while some are of another opinion. They said it's the digital form of the fiat currency. I just can't imagine that to be true because, we have been used to the digital version of the fiat currency on our local banking apps. We even use it for online payment.
I got confused further when I studied deep into the China digital yuan. Blockchain and smart contract was integrated into the e-CNY project. The smart contracts and the blockchain technology are key features of cryptocurrencies.
My question- is the CBDC project a cryptocurrency?
The People’s Bank of China are currently using the Chinese digital yuan as payment in the Beijing Winter Olympics . The major aim of using the Chinese digital yuan as payment is to test rub the project.
The Central Bank Digital Currency as created lots of controversies among the crypto enthusiast. Even as I write, I am yet to have a grasp on the functionality of the CBDC projects. Many believed that the CBDC is a form of cryptocurrency while some are of another opinion. They said it's the digital form of the fiat currency. I just can't imagine that to be true because, we have been used to the digital version of the fiat currency on our local banking apps. We even use it for online payment.
I got confused further when I studied deep into the China digital yuan. Blockchain and smart contract was integrated into the e-CNY project. The smart contracts and the blockchain technology are key features of cryptocurrencies.
My question- is the CBDC project a cryptocurrency?
