CBDC=(**e RUPEE**) India’s CBDC (Central Bank Digital Currency) by the RBI - Explained | UPSC |BANK bu KudosKuber.

To those not well versed with digital currency technology, cryptocurrency and CBDC might seem one and the same. But they aren't. Here's demystifying the two. To start with, CBDC refers to the digital form of a country's fiat currency, which is issued by the central bank of the country.

Central Bank Digital Currency (CBDC) pilot launched by RBI in retail segment has components based on blockchain technology. The Reserve Bank of India (RBI) has issued a concept note on Central Bank Digital Currency (CBDC) on October 7, 2022.

The Bahamas became the first currency in the world to officially launch a digital currency. The digital currency, Sand Dollar was launched in October 2020 across the country. Nigeria was the second country in the world to launch CBDC after the Bahamas. It launched its digital currency named 'eNaira' in October 2022.

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