I received an email from Bitkub the other day. It was about learning more about the possible future introduction of CBDC. (Central Bank Digital Coin) or Digital Baht.
i can't find the full article in English, but here is a couple of paragraphs:
Dear Valued Customer,
Bitkub Exchange presents you to get to know digital currency called CBDC, also known as Central Bank Digital Currency, which refers to a digital currency issued by a central bank. In Thailand, the Bank of Thailand is currently developing the "Digital Baht".
CBDC, or Central Bank Digital Currency, is built on blockchain technology in many countries. It aims to increase transparency, and verifiability, and enable convenient and fast transactions. CBDC can be used as a medium of payment for goods and services, as it possesses a fixed value and can be legally used to settle debts.
Thailand is one of the first countries to start studying and developing CBDCs under the name known as "Digital Baht" and started trials with sample groups and 3 major banks in the country, namely Bank of Ayudhya, Siam Commercial Bank, and 2C2P (Thailand) Co., Ltd. started from the end of 2022 until the middle of 2023.
How are CBDCs different from cryptocurrencies? Will they affect the crypto market? Find out more in this article.