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Algorand is the greatest hedgefund in UK! and is currently being tested for CBDC!
For information,
CBDC stands for Central Bank Digital Currency. It refers to a digital form of fiat currency (government-issued currency) that is issued and regulated by the central bank of a country. Unlike cryptocurrencies such as Bitcoin or Ethereum, which are decentralized and not issued by any central authority, CBDCs are centralized and regulated by the monetary authority (like a central bank).
CBDCs are designed to operate as a digital equivalent of physical cash, allowing for faster and more efficient transactions, enhanced financial inclusion, and potentially reduced costs associated with printing and distributing physical currency. They are also seen as a way for central banks to maintain control over monetary policy and the financial system in an increasingly digital economy.
CBDCs can come in different forms, such as retail CBDCs (accessible to the general public) and wholesale CBDCs (used for interbank or wholesale transactions). Many central banks around the world are exploring the concept of CBDCs, with some countries already piloting or implementing their own digital currencies.
With the current news, the sleeping giant is about to awaken! Don't forget to set stop limits to minimize losses for short term spot trades!
