Digital Currency Definition
Added to that, the price volatility of cryptocurrencies is another aspect that hampers its stability even as new tech and features mean that it is slowly but steadily gaining traction all around. Digital Currency – is the digital format of fiat currency that you carry around in your wallet or withdraw from an ATM. It’s the same currency that is backed by an authority, the Reserve Bank of India in case of Indian currency, and can be exchanged for actual currency if and when it is scheduled to be launched in 2023. Todays Cryptocurrency Prices, Charts And Data An example of a virtual currency is a gaming network token whose economics is defined and controlled by developers. A CBDC is a digital form of central bank money that is widely available to the general public. "Our work aims to ensure that in the digital age citizens and firms continue to have access to the safest form of money, central bank money," Christine Lagarde, the president of the ECB, said at the time. What