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How CBDCs can democratise banking and improve financial health
Central bank digital currencies are often used to pay salaries during the initial stages of implementation and as early use cases. While the sand dollar in the Bahamas was the first use of a CBDC for payroll in 2021, the deputy prime minister of Ukraine announced in January 2023 that Ministry of Digital Transformation staff would receive salaries in CBDC once the currency was implemented. And from May 2023, Changshu, a city of 1.5m people in eastern China, will pay public employees and government workers with the digital renminbi. Alongside CBDC distribution through welfare, lotteries or giveaways for early adopters, ... (full story)
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- Posted: May 25, 2023 11:51am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 55
