ICYMI: India’s central bank to launch digital rupee pilot
The Reserve Bank of India published a concept note on central bank digital currencies, stating a digital rupee prototype will be launched “soon.”
The Reserve Bank of India is stepping towards initiating a digital rupee pilot and indicating key features in the central bank digital currency , according to a 50-pageThe Indian central bank says it will launch a pilot Digital Rupee program “soon,” and will communicate about its features and benefits “from time to time.” Some key features, however, have been cautiously revealed.
It also discusses several issuing models, especially one where a wholesale CBDC would be account-based and issued by the central bank, while the CBDC for consumers would be token-based and managed by an intermediary. The technology behind the digital rupee is not yet set in stone. The RBI is leaving the door open to adapt to the decentralized technology as it evolves.
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