Browsing: Metaverse Central Bank Digital Currency

Some cryptocurrencies. The beauty of transacting in cryptocurrencies in Africa is that they are not plagued with hyperinflation like the countries’ local currencies. www.theexchange.africa

CBDC is a digital currency issued by the central bank and intended to serve as legal tender while Crypto is a privately issued digital asset based on a network that is distributed across a large number of computers.

The fundamental difference between CBDC and Crypto is the former is asset-backed while the latter is not, so seeks to create value through some intrinsic mechanism like mining. One primary drawback is that the speculative nature of mining makes it considerably volatile.

This has given rise to “stable coins” which are crypto assets that aim to maintain a stable value relative to a specified asset, or a pool of assets. A Global Stable Coin (GSC) is a stable coin with potential reach and adoption across multiple jurisdictions and could achieve substantial volume down the line.