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Insight
Transforming Finance and Banking
Strategies for Banks in a Digital Currency World
Central Bank Digital Currency (CBDC) is gaining traction worldwide as countries explore its potential benefits, including improved monetary policy design, enhanced financial accessibility, real-time payments, secure and non-commercial transactions, and reduced physical storage requirements. However, CBDC also presents risks like credential theft, misuse of power, double spending, data privacy concerns, and the need for cross-border interoperability. To adapt to this digital shift, banks must prepare by addressing revenue impacts, zero transaction charges, infrastructure setup, sandbox integration, CBDC wallet development, and robust cybersecurity.
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