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RE: LeoThread 2024-10-22 21:22

in LeoFinance • last year

How do CBDCs work?

CBDCs work similarly to digital currencies like Bitcoin or Ethereum, but they are backed by the full faith and credit of the central bank. Here's a simplified overview of how CBDCs work:

  1. Issuance: The central bank issues CBDCs digitally, using advanced cryptographic techniques to secure and verify transactions.
  2. Account-based system: CBDCs are stored in a digital wallet, which is linked to a user's bank account or identity. This ensures that transactions are authorized and tracked.
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