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Here Comes ‘Britcoin’

The Breakdown

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Blockchain and Crypto: Consensus 2023 in Austin, Texas

The public consultation process will be open until June 7th. The Reserve Bank of India launched two pilot programs late last year, one focusing on a retail CBDC and the other exploring a wholesale CBDC used exclusively for interbank settlement between financial institutions. According to sources who spoke with CoinDesk, there are competing agendas behind the push to launch a digital rupee. Publicly, the RBI has a stated goal to provide the option of digital money that is easier, faster and cheaper to use than existing payment rails. Privately, India's motivation is to quote counter the dollarization of the global economy.

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