Cryptocurrency Q&A
Which crypto will be used for CBDC?
Which crypto will be used for CBDC?
Lucia
Thu Jun 27 2024
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6 answers
1508
Could you elaborate on which cryptocurrency stands as a potential contender for Central Bank Digital Currencies (CBDCs)? With the growing interest in digital currencies, it's crucial to understand which underlying technology or asset might be chosen for this transformative shift. Are we looking at established cryptocurrencies like Bitcoin or Ethereum, or are there emerging alternatives that offer unique advantages for CBDC implementation? The choice could significantly impact the future of digital finance, so I'm keen to hear your thoughts on this pivotal matter.
6 answers
NebulaSoul
Sat Jun 29 2024
This specialized form of digital currency aims to streamline cross-bank transactions, reducing costs and improving liquidity.
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CryptoBaron
Sat Jun 29 2024
As private digital currencies like Bitcoin, Ethereum, Diem, and Libra gain popularity, CBDC is often viewed as a potential solution to integrate with or compete with these decentralized alternatives.
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Martino
Sat Jun 29 2024
Blockchain technology, which underlies many private digital currencies, offers transparency, immutability, and decentralized nature.
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Lorenzo
Sat Jun 29 2024
CBDC implementations often explore the use of blockchain or Distributed Ledger Technology (DLT) to achieve similar benefits while maintaining the trust and oversight of traditional financial institutions.
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DigitalEagle
Sat Jun 29 2024
To enhance the efficiency of interbank payments, wholesale CBDC is issued solely by reputable financial institutions and clearinghouses.
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