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Source: Getty Summary:  Faster and more trackable than cash, newly minted, state-managed digital currencies are poised to revolutionize how the world buys, sells, and invests. Related Media and Tools What are central bank digital currencies? Central bank digital currencies (CBDCs) are essentially the digital version of cash. Like cash, they are issued by and have their value guaranteed by central banks. For example, an Indian CBDC would be denominated in rupees, with one digital rupee having the same value as a one-rupee coin. These digital currencies are the latest innovation in payments technology and could change the way financial transactions are done. Whether the task is sending money abroad in a jiffy or making digital financial transactions without using the internet, CBDCs can help solve many of today’s payment issues like long transaction times and high fees.

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