The Reserve Bank of India (RBI) has announced the introduction of digital currency soon. Central banks in many countries of the world are also preparing to launch a digital currency. With the advent of this digital currency, cryptocurrencies like Bitcoin and Ethereum will be reined in.
RBI Deputy Governor Ravi Shankar has said that about 86 per cent of central banks are researching digital currency while about 60 per cent of the central banks have started technical experiments in this direction.
He stated that about 14 per cent of central banks have also started it as a pilot project. The Reserve Bank (RBI) may bring in digital currency in the coming few weeks or months.
Countries like China, Japan and Sweden have even started trials on digital currency. The Bank of England and the European Central Bank are also gearing up for the trial.
One country after another is moving towards digital currency because it has a lot of potential and benefits. There is no fear of it being spoiled or stolen, and it will benefit everyone, whether rich or poor.