Classes with News18: Cash in Your Tokens, We Are Unearthing the Treasure Trove of Cryptocurrencies
News 18 For the last two years, the world has been restricted to homes. In this chapter of Classes With News18, we will explain the upcoming era of digital currency that may replace the old system sooner than we expect. “A cashless society describes an economic state whereby financial transactions are not connected with money in the form of physical bank notes or coins but rather through the transfer of digital information between the transacting parties," the chapter says, adding that in today’s world, digital society can be seen as a realistic dream because of internet and smartphone penetration. Types of Digital Currency Based on a legal standpoint, there are two types of digital currencies – centralised and decentralised. In 2012, the European central bank described a virtual currency as “a type of unregulated, digital money, which is issued and usually controlled by its developers, and used and accepted among the members of a specific virtual community".
History of this topic
What is a digital pound and how would I use it?
The Independent
‘Digital pound’ possible by 2030 in bid to combat falling use of cash
The Telegraph
Emergence Of Digital Assets In Wealth-Tech Space And Why This Is The Future Of Investment
ABP NewsExplained: RBI’s digital currency plans
The Hindu
Central Bank Digital Currency Explained: What Is Digital Rupee, How It Works And How It Is Different From Bitcoin
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