After the success of stablecoins, more and more banks are developing their native Central Bank Digital Currency (CBDC) solutions. Fantom CBDC is a solution to upgrade the existing banking infrastructure. In Jan 2021, the Bank of International Settlements (BIS) surveyed 65 different central banks representing around 91% of the global economy. And guess what, 56 of those 65 central banks were either researching or developing and testing CBDC solutions. What CBDCs Are and What Makes Fantom CBDC Unique Central Bank-issued Digital Currency or CBDC, as the name suggests, is a digital currency controlled and issued by central banks. We already have paper-coin currencies and blockchain-based stablecoins. So why do we need CBDCs? Cryptocurrencies and stablecoins have several benefits over fiat cash, including faster transactions, decentralization, robust security, and much more. Governments across the globe want to offer digital currencies with benefits similar to cryptocurrencies while maintaining their control to ensure consumer protection and financial stability. This is where CBDC comes into the picture. In short, CBDCs are the best of both worlds – they provide the benefits of blockchain while providing consumer protection. Most importantly, users don’t need to transition to the crypto network. CBDCs are integrated into the existing banking infrastructure. Everything You Need To Know About Fantom CBDC Fantom CBDC is ex...
