Central bank digital currency is similar to cryptocurrencies in that it is software codes that operate on blockchain technology, meaning that it does not have a monetary equivalent in paper money in bank accounts, but the other difference is that it is a central currency, meaning that the bank controls it and determines its value, unlike cryptocurrencies that are primarily based on the idea of ââdecentralization, according to the website "Investopedia"$BTC #BTCâ
