Asian Central Banks Digital Currencies (CBDC) are the monetary innovations needed now to usher in new record levels of growth in trade and commerce in the coming years for the region and beyond.

The pandemic years of 2020 and 2021 have put enormous pressures on Asian leaders to search for a new growth formula for their respective nations

One of the most notable aspirations is the innovation of a central banks issued digital currency (CBDC) in respective nations in the region. Such digital currency is expected to bring tremendous opportunities to facilitate and expand commerce, trade, and industries for start-ups, SMEs, and corporations in and outside the region. 

The goal is for each central bank in the region to issue its own CBDC.  The Asian central banks digital currencies (CBDC) are different from the better-known digital currencies such as Bitcoin and Libra. The latter ones are proprietary but the Asian digital currencies are creations by government central banks.  Proprietary cryptocurrencies such as Bitcoin or Libra are not issued nor backed by government central banks.

Further, the management and control structure of CBDC is centralized at the government central bank while the myriad proprietary cryptocurrencies’ are decentralized at their enterprise entities.

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