CBDC Q&A
CBDC Q&A Challenge
Test your knowledge about Central Bank Digital Currencies (CBDC) with our engaging quiz! Discover the complexity and implications of CBDCs in today’s economy.
- Understand cross-border payments
- Learn about the benefits and challenges of CBDC
- Explore the current global landscape of digital currencies
Transaction costs present a minor challenge to small businesses and individuals who engage in international trade, because of the IT sector development.
True
False
Transactions between companies from different countries necessitate cross-border payments. However, this process is often complex and costly, as each country has its unique currency, banking system, and regulations.
True
False
B2C
B2B
C2C
C2B
Commonly Bought Digital Currency
Central Bank Digital Capital
Currency Based Document Confirmation
Central Bank Digital Currency
CBDC is a digital currency that is designed and issued by the World Bank, utilizing advanced technology to ensure its reliability and security.
CBDC is recognized by every entity as a lawful form of payment, including governments, making it a trusted and widely accepted currency.
CBDC transactions are transparent, tamper-proof, and validated via a blockchain database, ensuring the utmost security and immutability.
CBDC has the potential to allow for instant cross-border payments that are both cheaper and safer than other methods, making it an efficient and reliable option for businesses and individuals alike.
CBDC can destabilize the traditional banking system by reducing the need for intermediaries and decreasing deposits in banks.
CBDC may help to create a safer, faster, and cheaper payment system while decreasing the competition among system providers.
Implementing CBDC is not likely to create legal issues by implementing a new form of currency into the economy and its effect on existing laws.
Choose all the aspects regarding the CBDC which represent the dangers of this concept.
CBDC payment transactions can be monitored
A shift towards CBDC could destabilize conventional banking systems
A shift towards CBDC could disrupt financial stability and government control over money supplies
The issuance of CBDC, its storage, and related transactions are expected to necessitate enormous quantities of electricity
Transitioning to a completely digital currency has a potential to leave people without easy access to traditional cash for daily living expenses
True
False
Poland is in an advanced stage of the CBDC implementation. It is one of the first countries to do so in our region.
True
False
114 countries, representing over 94 percent of global GDP, are exploring a CBDC
True
False
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