History of Central Bank Digital Currencies (CBDC)

Central Bank Digital Currencies (CBDCs) are a new wave in the world of finance. Their emergence is driven by the desire of governments to modernize the financial system, improving its transparency, security, and accessibility. The primary goal of CBDCs is to create a digital version of traditional currencies that will be backed by the central bank and used for everyday transactions. These currencies promise to revolutionize payments, accelerate transactions, reduce costs, and also decrease dependence on private cryptocurrencies. At the same time, central banks seek to control inflation and ensure economic stability. Despite their prospects, the implementation of CBDCs faces a number of challenges, including ensuring security and protecting users' personal data.