CENTRAL BANK DIGITAL CURRENCIES

CENTRAL BANK DIGITAL CURRENCIES
an evolution of money and payments

CBDC, or Central Bank Digital Currency, is a trending topic in the financial industry. Let’s examine the basics of CBDC and its impact on the economy. As many Thales Accelerate Partners are actively involved in CBDC projects, it’s important to understand the basics of this digital currency and see why cooperation with Thales is beneficial.

Part 1 – what CBDC is all about

There is a constant development and progression of payment methods and systems over time. This includes the evolution from physical currency and checks to digital payment methods such as credit and debit cards, as well as the emergence of newer technologies like mobile payments and cryptocurrencies.

Many Thales Accelerate Partners are deeply involved in the CBDC projects so lets take a look first at what CBDC is.

CENTRAL BANK DIGITAL CURRENCY OR CBDC IS A DIGITAL MONEY,
AN ELECTRONIC VERSION OF NOTES AND COINS.

Central Bank Digital Currencies (CBDCs) are an important step towards a cashless society and a means of enabling digital payments for all citizens. CBDC will complement cash and be accessible to the general public for transactions using various devices.

Key CBDC benefits

• Remove costs of cash
• Remove banking & intermediary transaction costs with instant settlement
• Non-volatile currency, £10 CBDC = £10 physical banknote
• Sovereignty, national security
• Enabling cashless society with financial inclusion for everyone

CBDCs are not Cryptocurrecies

Central bank digital currencies are digital versions of a country’s nat

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