A Review of Central Bank Digital Currencies

This is a review paper on the exploratory research done by various central banks and international organisations CBDCs framework to be followed for implementing these so that monetary system of specific country remains unaffected. cryptocurrency in general as we know have become quite popular are talking point many scholars, economists investment analysts. While believe cryptocurrencies no intrinsic value, value underlying technology i.e blockchain something can argued upon. remove major cons providing stability volatile market acting legal tender thereby gaining trust retail public. Many governments introduction into economy could simplify payment’s structure increasing velocity money leading higher GDP growth. But one possibility shatters this glass optimistic views disintermediation which adversely affect credit creation capacity disintegrate entire policy formation mechanism. Therefore, though concept digital currencies may excite people, its adoption an should considered only after thorough pilot programs conducted banks.