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ArticlesCBDC: The Future of Digital Economy
The digitization of the economy has accelerated amid the Covid-19 pandemic. To keep up with the changes, central banks are investigating and testing central bank digital currencies (CBDC).
A CBDC is a digital representation of fiat currency. At present, only commercial banks can use digital funds. People, companies, non-bank financial intermediaries can make non-cash payments only through their bank accounts. Banks set limits, charge high fees, and are unavailable in some places.

The digital nature of currency is nothing new. The main point is to make digital money publicly available. The implementation of digital currency can minimize the chain of intermediaries involved in payments to make paying for things cheaper, faster, easier, and more secure.
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