Central Bank Digital Currency (CBDC): The Basics by Blockchain DXB 🚨 What is CBDC, Different Types of CBDC & benefits 🚨 Bitcoin vs CBDC 🚨 Game changer for CBDC 🚨 Political implications on CBDC - a podcast by Blockchain DXB

Basic level explanation on CBDC, some of the points covered are below

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🚨 Podcast information below🚨
• What is CBDC, how does it work, and what role do Central Banks play in creating, managing and supply of money? General management of CBDC by Central Banks
• How does CBDC compare with cash
• Comparison between CBDC and Bitcoin
• Supply comparison between CBDC & Bitcoin
• How the issuance of CBDC is done?
• Tracking of your money with CBDC
• Is CBDC going to be stablecoins?
• How loans and interest will work with CBDC
• Central Banks working on privacy for CBDC
• Russia plans to back CBDC with gold
• Can CBDC cleverly manage supply by burning coins and help curb inflation?
• Will CBDC use private key / public key/ Public address
• Timeline of CBDC and how China used private companies to help spread adoption with the Olympics in mind
• Multiple CBDC and Central Bank of UAE part of it
• Will banks manage CBDC?
• Will CBDC have smart contracting functionality?
• Can you use CBDC without the internet by NFC?
• Possibility of Insurance for CBDC
• Importance of customer support
• How customer service and chargebacks can help mainstream adoption
• Ethereum Improvement Proposal EIP 1559 (London hard fork) & can CBDC implement a similar strategy and curb inflation
• Beyond Blockchain tech to be used by Central Banks?
• Bitcoin VS Central Bank Digital Currencies
o Opensource
o Permissionless
o Censorship resistant
o Borderless
o Neutral
o Publicly verifiable
• Game Changer: Central Bank Digital Currency if they make the source code open, build it on Open Blockchain and implement Zero Knowledge proof could pose a serious threat to existence to Bitcoin and cryptocurrencies
• Benefits of CBDC
o Bank the unbanked
o User experience
 Email/password
 Merge with private key but less strong cryptography
 Ability to purchase without internet
 Subscription services
o Negatives of CBDC
 State control
 Easy to stop/censor transactions
• David Chaum's project Tourbillion focuses on privacy for CBDC
• Banks to update the ledger so that way Central Banks cannot have access to control transactions
• Threat to stablecoins
• Basic level explanation on
o Retail CBDC
o Wholesale CBDC
o Multiple CBDC
• Politics and politicians' Views on CBDC
o Right Wing vs Left Wing View (USA)
o Conservatives’ vs Labor Party (UK)
o BJP vs Congress (India)
o India, Pakistan's view on CBDC (Very Pro CBDC)
o China’s role in CBDC
 Launch
 Peoples bank of China
o Russia’s stance on CBDC
• CBDC's role in Metaverse
o Ideal use case
o Better than cryptocurrency in the Metaverse?
o Solves Scalability and offers a better user experience
• Is CBDC Web 3.0?
o Explanation of Web3.0
o CBDC not Web3.0

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