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In this blog, Chakravorti explores the role of retail central bank digital currencies (CBDCs) and their impact on payments and banking, more fundamentally. CBDCs are digital representations of fiat currencies issued by central banks, but their existence may have wider implications than just for payments. Today, central banks around the world are considering if they should issue CBDCs. While many central banks have started to research CBDCs, only a few have issued or piloted CBDCs.
