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View: A digital rupee and cryptocurrencies can (and should) co-exist
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(This story originally appeared in on Oct 27, 2021)
economictimes.indiatimes.comCryptocurrencies will not replace fiat currencies. But, ongoing innovations are forcing central banks around the world to consider a centrally-backed version of cryptocurrencies, also known as Central Bank Digital Currencies (CBDCs), or digital Rupee in India’s case.
CBDCs are fiat currency in code. They can be programmed for specific use-cases and leveraged for delivery of government benefits and financial inclusion, address concerns around inclusion errors, and strengthen regulation to counter money laundering and terrorist financing.
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