Central Bank Digital Currency Explained: What Is Digital Rupee, How It Works And How It Is Different From Bitcoin
Finance Minister Nirmala Sitharaman during her Union Budget 2022 speech made some major announcements related to cryptocurrencies, especially the new tax on crypto earnings. Calling it the Central Bank Digital Currency, the announcement says Digital Rupee will give “a boost to the digital economy". Digital Rupee is powered by blockchain technology which makes currency management cheaper, allowing the Government to print less notes in the future. WATCH VIDEO: Xiaomi 11i HyperCharge Smartphone Review: Reliable All-rounder With 120W SUPER FAST Charging HOW WILL DIGITAL RUPEE WORK Even though Digital Rupee will be powered by blockchain technology, it will be governed and monitored by the Central body, which prevents volatility in the currency owing to different reasons. Watch Video: NoiseFit Evolve 2 Review: Good Smartwatch Under Rs 5,000 IS DIGITAL RUPEE DIFFERENT FROM CRYPTOCURRENCIES LIKE BITCOIN Digital Rupee has all the blueprints of a cryptocurrency.
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For using RBI's e-rupee, banks will now reward you. Details here