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Central Bank Digital Currency and Its Implications for Global Financial Systems
Abstract
Central bank digital currency (CBDC), the recently emergent digital representation of central bank currency, reflects a rapid expansion in the monetary response space. This chapter focuses on global CBDCs, how this innovation evolves globally, their effect or disruption to the existing financial ecosystem, and analyzing the likely opportunities and threats that they may pose to central banks, governments, financial institutions, and consumers at large: The research will highlight the comparisons among existing CBDC projects, the relevant policies, and the technology behind it to provide a clue behind the future of money and shape its world.
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