In China, fraudsters use similar methods to what they’d try for a debit or credit card scam but adapted for the digital yuan
As a digital replacement for physical cash, CBDCs would eliminate the costs incurred from handling cash, leading to cheaper and more efficient payments.
“A CBDC might be beneficial and probably necessary to ensure a competitive and vibrant digital economy”.
Government is built, by design, to move slowly. CBDCs, however, are an area where government needs to partner with the private sector.