Malaysia is the latest country to explore the opportunity to launch a central bank digital currency.
, Malaysia is the newest state dipping its toes. Despite not making any final decisions, the Asian country has started researching how a central bank digital currency could affect its monetary network and whether it will be beneficial for its economy:
The mutual effort, dubbed Project Dunbar, vowed to develop prototype shared platforms to enable direct CBDC transactions without the need for intermediaries.Central bank digital currencies are digital tokens issued and fully controlled by superior institutions such as governments and central banks. As such, their use-cases caused many debates, and numerous individuals claimed they could harm the monetary system and reduce people’s freedom.
To prove his statement, Snowden pointed out China. According to him, the total ban on everything crypto there, alongside the release of the digital-yuan, is intended to “increase the ability of the State to impose itself in the middle of every last transaction.”
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