Article • over 1 year ago
Reserve Bank of India Makes Progress Towards Implementation of Digital Rupee
Summary
- The Reserve Bank of India (RBI) is progressing towards launching its own digital currency, the Digital Rupee, as a safe and government-backed alternative to decentralized cryptocurrencies.
- The Digital Rupee aims to improve financial transactions, eliminate physical cash, and integrate with digital wallets for secure saving, transferring, and receiving of digital rupees.
- Implementation of advanced security measures, such as encryption and blockchain technology, is being prioritized by the RBI to protect transactions and combat counterfeiting.
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