Learn in the textbookFinTech, Digital Currencies, and Identity Verification / Anti-Money-Laundering Measures
DefinitionCBDC (central bank digital currency) is currency in digital form issued by a central bank (中央銀行) in its own national currency.
ExplanationLike banknotes issued by a central bank, its value is backed by the issuing central bank, and the difference is that it takes the form of electronic data. Central banks in many countries are researching it and running pilot tests.
Memory hookThe initials of Central Bank Digital Currency: CB is the central bank and DC is digital currency.