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Explanation: Today, countries are sized with idea of cryptocurrency as in this modern digital age, paper banknotes are gradually losing their role as a reference value in payment system across the worlds. A cryptocurrency like bitcoin is cryptography-based peer-to-peer electronic cash system, founded on blockchain and distributed ledger system, that allow the transfer of values without any financial intermediary such as banks. CBDC is a digital or virtual currency, but it differs from the private virtual currencies and cryptocurrencies that have exploded in popularity over the last decade. Because there is no issuer, private virtual currencies do not represent any person’s debt or liabilities. They aren’t money, and they aren’t even close to being currency. The Reserve Bank of India has been a vocal opponent of private cryptocurrencies, claiming that they could jeopardize national security and financial stability. The Reserve Bank of India (RBI) will issue Central Bank Digital Currency (CBDC), which will be a digital form of legal tender.
Indian Army observed _____ Infantry day, on 27 October 2021 as a remembrance of the first military operations carried out by independent India when the ...
What is the primary concern regarding India's trade deal with the UAE under CEPA?
Which Indian Industrialist occupied the ninth rank globally in Hurun Global Rich List 2022?
Which two companies have partnered to achieve 100 % solarisation of government buildings across India under the PM Surya Ghar Yojana by December 2025?
Recently which firm has signed a MoU with Tamil Nadu Industrial Guidance and Export Promotion Bureau to set up the first semiconductor park in Tamil Nadu?
Which ministry organized the National Campaign for Updation and Verification of People's Biodiversity Register (PBR) in Goa?
What is the significance of the R21/Matrix-M malaria vaccine receiving the World Health Organisation's (WHO) recommendation?
Prime Minister, Shri Narendra Modi flagged off the World’s Longest River Cruise-_________ at Varanasi.
Banks have written off bad loans worth Rs 14.56 lakh crore in the last nine financial years starting 2014-15. Out of the total Rs 14,56,226 crore, writt...