Home Business News Decentralization is the final frontier for CBDCs according to Cointelegraph

Decentralization is the final frontier for CBDCs according to Cointelegraph


Decentralization is the final frontier for CBDCs

As central bank digital currencies, otherwise known as CBDCs, continue to gain mainstream global traction in the global financial landscape in recent years, most central banks The central government is actively researching the benefits and risks of offering a digital currency to the public.

In the most basic sense, CBDC is a form of digital currency, backed by an appropriate amount of monetary reserves such as gold or foreign currency reserves. Each CBDC unit acts as an equally secure digital tool and can be used as a method of payment, a store of value, and a formal unit of account. What distinguishes them from stablecoins – fiat-pegged analogue digital services – is that they are issued by the government and backed by central bank-issued money, making them fully regulated. physical.

Sky Guo is the CEO of Cypherium. His extensive knowledge of blockchain consensus, transactions, and cryptographic algorithms stems from his background in computer science. With a Bachelor of Science degree from Pepperdine University and a degree in business from Draper University, Sky is also columnist for Caixin, a Chinese financial media.