CBDCs To Usher In A Cashless Future, Overthrowing Traditional Banking: Royal Bank of Canada

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The Royal Bank of Canada (RBC) has released a report on the evolving landscape of central bank digital currencies (CBDCs), that underscores the increasing global shift towards electronic payments as traditional cash usage wanes. This trend has prompted numerous governments to consider introducing digital versions of their national currencies. CBDCs, in theory, promise quicker and more cost-effective transactions. They also present an opportunity to integrate individuals currently outside the conventional banking framework, potentially reducing settlement risks and delays in international trade…

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