Junaid Baig Mirza

The Phoenix of Money: Central Bank Digital Currencies (CBDCs)

Throughout the history of humanity, it is undeniable that money has changed from a physical object to digital assets. It is without question , that we are now going through a new era which centers around central bank digital currencies (CBDCs). CBDCs are digital tokens issued and governed by a central bank and these have the potential to completely change the way business is conducted today. But like anything else, new technology comes with some risk. This paper discusses the duality of CBDCs, considering both their potential benefits and the threats they present.