Part 1/8:
Understanding Central Bank Digital Currencies (CBDCs)
Central Bank Digital Currency (CBDC) represents a currency type directly issued by central banks. This modern monetary concept can operate on two levels: wholesale and retail. The wholesale model allows commercial banks to manage CBDCs at a retail level, essentially administering the currency for end-users while maintaining a connection with the central bank. Conversely, a retail CBDC is directly managed by the central bank without intermediary involvement.