RBI Likely to Share More Details on CBDC in 2022

In 2022, expect more details and maybe some action on the Central Bank Digital Currency (CBDC) front. Proposed as its virtual currency by the Reserve Bank of India, "It will basically be a technology-led exchange of the Indian Rupee with RBI oversight on the supply as well as usage," says Vikram Subburaj, Co-founder and CEO of Giottus Cryptocurrency Exchange. A big advantage of CBDC is that all transactions can be tracked. But there's a hitch: No country has yet implemented a CBDC-based economy, although many, including China, are testing it.