CBDC Q&A

Create an informative and visually appealing infographic that showcases Central Bank Digital Currencies (CBDC), emphasizing their benefits, challenges, and potential impact on global finance.

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

12 Questions3 MinutesCreated by ExploringFinance42

Transaction costs present a minor challenge to small businesses and individuals who engage in international trade, because of the IT sector development.

True

False

Gify

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

INTO ACTION / Gify

The abbreviation CBDC stands for...

Commonly Bought Digital Currency

Central Bank Digital Capital

Currency Based Document Confirmation

Central Bank Digital Currency

Obama / Gify

Which statement about the CBDC concept is FALSE?

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.

YoungerTV / Gify

CBDC has the capacity to allow for the unbanked and underbanked to access the global economy, potentially reducing cash usage and promoting financial exclusion.

True

False

Physics Girl / Gify

What is TRUE about the concept of CBDC?

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

ProBit Global / Gify

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

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