Part 3/10:
CBDCs operate similarly to physical cash but in a digital form:
The Bahamas has launched the Sand Dollar, a digital version of its dollar issued by the Central Bank of the Bahamas. This digital currency is available through authorized financial institutions.
China is at the forefront globally with its Digital Renminbi (or Digital RMB). It has undertaken extensive testing and pilot programs, making it one of the most advanced nations in developing its CBDC.