Naked Capitalism has the post As Crypto-Crisis Metastasizes, Big Moves Are Being Made on CBDCs.
While all this is playing out, to breathless coverage in the media, big moves are being made around the world on central bank digital currencies (CBDCs). And they are receiving virtually no coverage.
I had no idea other countries were so far ahead of the USA.
Michael Hudson says that this whole area of money is beyond his expertise. I think this article explains how it is not really beyond his expertise.
If you use a credit/debit card, the issuer of that card extracts a fee for every transaction. Will the Central Bank Digital Currencies do away with that economic overhead of that fee?
I’ll save you the effort of looking up how much a crore is. 1 Crore is equal to10 Million