Page 118 - BFSI CHRONICLE 10 th Issue (2nd Annual Issue ) .indd

BFSI Chronicle, 2 Annual Issue, 10 Edition July 2022
th
nd
public in a convenient way. Depending on the costs, avoidance of time zone issues, lower
model adopted, the whole ecosystem needs transaction costs, greater transparency and
various players to function including RBI, cost efficient in the globalisation of payment
Banks, Payment service providers, Financial systems. He differentiated fiat currency, crypto
Institutions, Application/third party service currency and digital currency on basis of
providers. RBI and Banks may need to provide acceptance, security, programmability, scarcity
parallel end-to-end block chain enabled system and anonymity.
for CBDC issuance and circulation.
There were questions on taxation and the
Further, the speaker pointed out the roadmap of launch of digital currency by the
advantages of CBDCs such as lower printing Regulator.

The Institute Of Cost Accountants Of India

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