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Central Bank Digital Currency
Central bank digital currencies (CBDCs) are gaining traction around the world, with several countries already in the process of developing or piloting their own CBDCs. CBDCs are digital versions of fiat currencies, and they offer a number of potential benefits, such as faster and cheaper payments, increased financial inclusion, and improved monetary policy.
Cryptocurrencies, such as Bitcoin and Ethereum, are also digital currencies, but they are not issued by central banks. Cryptocurrencies are decentralized, meaning that they are not subject to government or financial institution control. This has made them attractive to some people who are concerned about the potential for government overreach or financial instability.
However, cryptocurrencies also have a number of drawbacks, such as their volatility and the risk of fraud. As a result, it is unlikely that cryptocurrencies will completely replace CBDCs. Instead, it is more likely that the two will coexist, with each serving a different purpose.
For example, cryptocurrencies may be better suited for peer-to-peer payments, while CBDCs may be better suited for large-scale transactions or for use by central banks to implement monetary policy. Ultimately, the future of CBDCs and cryptocurrencies will depend on how they are able to meet the needs of users and businesses.
Here are some additional thoughts on the current situation involving CBDCs and crypto:
The development of CBDCs is still in its early stages, and it is not yet clear how they will be implemented or how they will interact with cryptocurrencies.
There is a lot of debate about the potential benefits and risks of CBDCs, and it is important to carefully consider these factors before making a decision about whether or not to use a CBDC.
The future of CBDCs and crypto is uncertain, but it is clear that both technologies have the potential to revolutionize the way we think about money.
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0:00 Intro
0:45 Rise of Cryptocurrencies
2:10 Evolution of CBD’S
3:47 Crypto Countries
4:28 Bitcoin
5:48 Adoption
6:21 Banks using CBDC
8:20 XRP Ripple – SEC Lawsuit
9:18 Outro