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What is the difference between digital rupee and crypto currency?

The Reserve Bank of India is now all set to launch its Central Bank Digital Currency (CBDC) pilot. It now qualifies as legal tender in digital form. It is commonly known as Digital Rupee.

This : ===========================================

* Converted at par with current currencies.

* Acceptable for payments.

* Considered a safe store of value.

RBI : ======================

1. Only digital rupee is expected to facilitate digital transactions and ease of use.

2. Digital Rupee is RBI's approved version of cryptocurrencies.

3. Being an electronic form of sovereign currency, CDBC is now being touted as more secure than private cryptocurrencies.

Now let us know how digital rupee and cryptocurrency differ from each other.

What is cryptocurrency?

* Simply put, cryptocurrency is money that is decentralized from any government or central bank chains. It relies on blockchain technology.

* Moreover it uses cryptography to secure transactions made by individuals making it impossible to forge.

Motive behind creation of bitcoin : ==========================================

Helping people send money over the Internet. Digital currency is an unregulated alternative payment system that works like traditional currencies.

To better understand cryptocurrency, you need to know about three terms: blockchain, decentralization and cryptography.

Cryptocurrency Vs Digital Rupee : ======================

According to RBI, “CBDC is a legal tender issued by central bank in digital form. It is identical to fiat currency and can even be exchanged one-to-one with fiat currency. But only its form is different.

* But CBDC cannot be properly compared to cryptocurrencies.

* Unlike cryptocurrencies, CBDC is not a commodity or claims on goods or digital assets.

1. CBDC is the digital avatar of paper currency issued by central banks like RBI and is to be exchanged for cash.

2. Commonly known digital rupee is RBI issued currency and digital rupee has same function.

3. But it is not a decentralized asset like cryptocurrencies.

4. Digital rupee is the only currency issued by central banks responsible for controlling and managing assets.

5. Digital rupee becomes legal tender. That means you can use it to buy anything you want.

For example : =============

Digital wallets, NEFT and IMPS are examples of digital rupees.

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Daily Questions for Exam

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Weight-Loss | loss weight

In this article what rules should be followed for those who want to reduce their weight. Let’s know completely how to lose weight easily.

calorie deficit :- Providing less than required calories to our body. We all know this. The day itself is called calorie deficit. How many ways can we create this? Before knowing this let’s know about Maintenance calories.

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Math Puzzle  Solve this ? #youtubeindia