Assets & Central Bank Digital Currencies (CBDCs)
Across the world, several banks have been exploring digital currencies. According to the World Economic Forum, more than 40 global central banks have been investigating blockchain technology. Blockchain technology enables information recording in a reliable way which makes it impossible to be altered or hacked.
Digital currencies based on blockchain technology will increase security, transparency, and control. It will change the way we do payments online as they are token-based, which means that instead of transferring money across accounts, the transaction is already the settlement. CBDCs will be based on blockchain-based Cryptocurrencies such as Bitcoin and Ethereum.
Prediction: 5 out of 10 largest economies will have CBDCs.