Will CBDC threaten the existence of cryptocurrencies?

Will CBDC threaten the existence of cryptocurrencies?
Will CBDC threaten the existence of cryptocurrencies?

redaksimuda.comWill CBDC threaten the existence of cryptocurrencies?. We know that one of the main areas of work in economics is blockchain and cryptocurrencies.

The great interest of investors in global Big Technology has been demonstrated by various authorities in the world, especially central banks, as in the case of Indonesia, and their efforts to participate in the development of relevant digital products.

Central bank digitization (CBDC), rather than improving existing approaches, is seen as more efficient and effective, especially if the CBDC is based on blockchain technology, such as cryptocurrencies.

Regarding the advantages of Blockchain technology, it is expected that the CBDC will become free or control the use of cryptocurrencies, and become the “enemy” of some banks and international governments due to its central and stimulating nature.

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What do you think about CBDC live? So what kind of implementation of blockchain technology do you expect from the central banks and governments of the world? In this article we will try to briefly describe the questions created with the help of this book.


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Will CBDC threaten the existence of cryptocurrencies? 2

CBDC is encrypted as a central bank digital currency. A currency other than the central bank currency is called CBDC and is legal tender in the country.

Let’s show our prices with paper money letters. In addition, the CBDC allows, among other things, to speed up the process of flexible and economic transactions, as well as to simplify the system of financial transparency in the field or between them.

Despite the various situations associated with this quality, the concept of CBDC vivies is still unclear and widespread. The top ten is far from central bank information on CBDC.

While some economists in Europe believe that blockchain technology was used thanks to Iran’s statement, central bank officials hold their own. The entrance to the mother website, in turn, should only have digital euros with a euro currency set.

But what will happen if the country’s central bank joins the CBDC in developing and certifying the unified blockchain technology? How would you like to implement blockchain? Some sources claim that the use of blockchain technology also played a significant role in the development of CBDC.

This increases the development potential of blockchain, which is still visible, and some are optimistic. So, if the utility of the CBDC blockchain is used as a base, then this digital money can use a hybrid type collar, such as:

1. Distribution Accounting Technology (LT)

Distributed ledger technology spreads this network technology, and central government cleaners are working to prevent the situation. Using cryptographic technology, you can store all information securely.

You can encrypt it by giving it a “key”. As soon as the information is stored, it becomes an immutable database and is formed through an additional network. That is, distributed ledger technology must come primarily from the notion of a “core” network and a “core” mechanism.

If so, if the central bank is specified in the anti-money laundering mechanism, why would the authorities use it? Do not forget that there are several types of blockchains, one of which is HBR.

Hybrid blockchains are social media networks where authorities can access data and store user suggestions.

In addition, LT is a widely used system in blockchain technology, and the direct use of LT is carried out more efficiently and efficiently by using the central bank CBDC. Currently, the Bank files financial reports centrally so that the money can be distributed.

But all financial records in this regard will be recorded, processed independently and will not be distributed. It facilitates the work of headquarters or other authorities by recording transactions in a suspicious chain of records.

2. Minister’s speech

As explained in the first paragraph, if a particular HBR Brid CBDC blockchain utility allows 21 million units, then no party specified at the beginning of the agreement can do so.

However, with the help of a hybrid core blockchain system, authorities continue to control how much time and money is spent on accounts.

3. Two-tier base and high performance.

If all central banks develop CBDCs in one network, then the transparent money process becomes cheaper and faster. In addition, the CBDC prints banknotes.

Different types of CBDC

According to various sources, CBDC is divided into two types, namely CBDC Mar. Most of the utilities in the CBDC are free financial institutions, the concept of deposits in the central bank is based on deposit instruments.

Therefore, the central bank will continue to withdraw capital to the accounts of financial institutions as Secret Officials and then as transparent interactive payments for public services.

As for CBDC, this type of accounting is used by foreign exchange companies and. The difference is that a CBDC can only de-risk the middlemen, so unprofitable digital currencies can be broken up and lose their customers’ money.

In this case, CBDC memory is divided into two types that can be developed and used in inexpensive systems. This person is within the CBDC reported above.

As for the CBDC above, it can be accessed through private or public “instant” access. This type allows users to make anonymous transactions. Although CBDC works with accounts that do not allow users to make anonymous transactions, digital identification is not required to use user accounts.

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