Let’s say you are present in a huge social gathering where you are meeting with various individuals and having a gala time interacting with them while exchanging thoughts. Now let’s take your imagination to the next level by closing your eye and feeling your presence in the same event, by not being physically present there. … Read more
Since 2009, when the Bitcoin was launched, Bitcoin maximalists tried to explain to the world its potential use cases, however, we never witnessed any on the ground. It was always more of a thin-air talk rather than an actual used case. On the contrary, Ethereum which was launched in 2015, picked up on various use … Read more
Stablecoin, as the name suggests, is a cryptocurrency built on a blockchain ledger with a stable monetary value. Stablecoin inherits a stable currency value as it is pegged/set at a fixed exchange rate with a particular currency, generally US Dollar or a commodity like gold or any financial instrument. The non-volatile nature of Stablecoin makes … Read more
Since the launch of Unified Payments Interface (UPI) in India (in 2016), India has seen a year-on-year growth of 50% in the volumes of cashless transactions. In the last financial year, the volume of the cashless transactions were reported to be approximately 5.86 billion Rupees. The amazing design of the UPI network and the ease … Read more
As per IMF1, India is one of the few countries across the globe which has an advanced digital payment infrastructure. India’s digital payment volume has increased at an average of 50% year on year, over the past 5 years. In the last financial year alone, the value of digital transactions amounted to 5.86 billion Rupees, … Read more
The Reserve Bank of India in conjunction with the International Monetary Fund (IMF) and Bank of International Settlements (BIS) is working on a project, e-Rupee to replace the cash notes with digital legal tender. Let’s explore the e-Rupee in detail below. What Exactly is the e-Rupee? e-Rupee or Digital Rupee is a legal tender issued … Read more
Wholesale CBDC is the digital version of the Central Bank money. It is used by financial institutions (that hold deposits with the central bank) to settle interbank transfers and wholesale transactions. It is envisioned to bring efficiency and stabilization to the financial ecosystem.1 Why Wholesale CBDC? The central bank money has two legs. The first … Read more
A Retail Central Bank Digital Currency (CBDC) is issued by the Central Bank to the general public for the sale and purchase of goods and services. It is a legal tender issued by the central bank in the form of digital currency intended only for retail users (for example to buy coffee or vegetables). This … Read more
A Central Bank Digital Currency (CBDC) is being envisioned to replace a major percentage of cash transactions across the world. China, for example, is very close to being a cashless society. As a result, banks are shutting down their branches and discouraging cash deposits and withdrawals in China, to encourage the use of the Chinese … Read more
A country’s federal government can either decide to control the minting and distribution of the CBDC alone or have a public private partnership to handle the operations effectively. Private players/financial institutions, therefore, shall have a significant role to play in the CBDC ecosystem. The early adopters shall be able to grab a bigger pie of … Read more
Also Explore - Blockchain 10 Seconds - Web Stories