India’s Central Bank Recommends Country Implement Basic Version of CBDC

📆 12/28/2021 7:19 PM
📰 CoinDesk

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India’s central bank (RBI) is recommending the country implement a basic version of a CBDC before trying anything more sophisticated. amitoj reports

A pedestrian walks past the Reseve Bank of India in Mumbai, India

In a major step away from the RBI’s stance in the past towards anything cryptocurrency-related, the report says “In its basic form, a central bank digital currency , provides a safe, robust, and convenient alternative to physical cash. In comparison with existing forms of money, it can offer benefits to users in terms of liquidity, scalability, acceptance, ease of transactions with anonymity and faster settlement.

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