Imagine money that's only on your phone or computer, like a digital version of cash! That's a Central Bank Digital Currency (CBDC). Governments are exploring these new digital forms of money because regular money is changing quickly with apps and cryptocurrencies.
- CBDCs are like digital cash controlled by a country's central bank.
- They could make payments super fast and easy.
- They might offer privacy, but governments also want to track them.
- Many countries are exploring this, including Canada and China.
| Feature | Description |
|---|---|
| Privacy | May be similar to cash, but governments might track some transactions. |
| Speed | Payments would be very fast, much quicker than checks. |
| Future | It might take several years before it’s commonly used. |
