Page 29 - Banking Finance June 2022
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ARTICLE
CENTRAL
BANK DIGITAL
CURRENCY
(Virtual form of a fiat currency)
Background
Money is not everything in life but it is hard to imagine life Bartering
without Money. Money is an object that is generally
Crypto Exchange
accepted as currencies Medium
Payment for goods & services
Medium of exchange
Electronic
Store value
form (Mobile Miniture
& Net replicas
Repayment of a debt banking)
Unit for measurement of economy
Evolution of money to the present form Electronic Coins made
form (Mobile
of metals
Over the last few years, there is growing interest in & Net
banking)
cryptocurrencies like Bit-coin, Litecoin and Dogecoin which
work on a distributed ledger technology known as the block Plastic money
Paper
(Debit &
currency
Credit cards)
About the author
D. Surendranath
chain network. Cypto-currency is a type of digital currency
Chief Manager & Faculty
Union Bank of India Staff College, that exists electronically. Such virtual currencies have gained
Kalkere, Bangalore immense popularity due to its decentralized and regulation-
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