Do you consider CBDC as crypto?

[doc]

CBDC can mean more power to the government whereas cryptocurrency most especially BTC can mean more power to the people.

CBDC will give a complete trail of transactions to the government entities at any time about any user and that's more easier to identify than even the fiat money and also CBDC can put an end to the small banking sectors too, only the big players will be controlling every monetary TXs and we often forget that issuer of fiat or CBDC is central banks which are not directly controlled by the government either, it could be by anyone who the influential people want them to be.

Maybe those influential people can control CBDC and the government can also interfere with the central bank, because the government has the power. Moreover, the centralization of the system, it is easy for those who have power to control it.
We don't know what CBDC will do in the future, whether to compete with crypto or just a digital currency.

[libert19]

Government are creating their own CBDC to make their citizens shy away from crypto but it is nothing but fiat in an advance way.

I don't think governments are creating CBDCs to make their citizens shy away from crypto, rather I feel they do so because they understand the advantages of blockchain technology, and want to make use of it.

To op, I don't consider CBDCs as crypto, because here central bank has authority over everything, whereas crypto is comparatively more decentralized.

[Rruchi man]

As the title says, do you even consider CBDC as part of crypto currency?

The only sets of individuals that will consider CBDC to be cryptocurrency are people who are less informed, because if you have information, you will understand that CBDC's were only created by the government to distract people from crypto currency itself, so it can't be considered cryptocurrency even though it shares some slight similarities. My joy about CBDC's is that it's introduction has exposed many people to cryptocurrency itself, based on the constant comparison that will always be made between the two.

[kulkhan]

As the title says, do you even consider CBDC as part of crypto currency?

I don't see it as a crypto, just because blockchain technology is used doesn't mean it's crypto for me because the basic essense of crypto I know is decentralisation so anything that lean towards centralisation is moving away from crypto and there is CBDC which is the extreme level of centralisation and not really any different from digital Fiat.

I don't think CBDC is crypto because it is a country fiat currency but in a digital form and has the same value of the country currency. Will I say that it is similar to crypto but not crypto. Government are creating their own CBDC to make their citizens shy away from crypto but it is nothing but fiat in an advance way.

Central Bank Digital Currency (CBDC) is like Cryptocurrency But it is not Cryptocurrency i also think. CBDC is digital currency. It control By Central Bank and by the government..We konw cryptocurrency is not regulated by any Government. But CBDC is controlled by Government. CBDC created for thats countries people’s transection. But Cryptocurrency is fully decentralised.

[sampoerna]

The government deliberately created CBDC to make people switch from crypto to something they can control, right? Hmm, they always tout digital currency, however, the only thing they prioritize is that in essence, they must still be able to control that digital currency, and make their citizens aware of the CBDC they create, then emphasize to their citizens to prefer the CBDC they issue rather than crypto.

The only thing they might popularize is that they are part of cryptocurrency because they are also made on the blockchain, and they have claimed that CBDC is no different from cryptocurrency, but with the legal status of the government, the only difference is, they regulate, regulate, and control the CBDC.

Then in essence, what is the difference with the money they have created so far? And until now, CBDC has only been often echoed but has not been properly realized by governments in various countries. maybe, this will be partly a fake or stalled project, or even if it is published, will it be that successful, maybe if it is forced. hahaha

[36B]

As the title says, do you even consider CBDC as part of crypto currency?

I don't see it as a crypto, just because blockchain technology is used doesn't mean it's crypto for me because the basic essense of crypto I know is decentralisation so anything that lean towards centralisation is moving away from crypto and there is CBDC which is the extreme level of centralisation and not really any different from digital Fiat.

I don't think CBDC is crypto because it is a country fiat currency but in a digital form and has the same value of the country currency. Will I say that it is similar to crypto but not crypto. Government are creating their own CBDC to make their citizens shy away from crypto but it is nothing but fiat in an advance way.

Central Bank Digital Currency (CBDC) is like Cryptocurrency But it is not Cryptocurrency i also think. CBDC is digital currency. It control By Central Bank and by the government..We konw cryptocurrency is not regulated by any Government. But CBDC is controlled by Government. CBDC created for thats countries people’s transection. But Cryptocurrency is fully decentralised.

Agreed, CBDC was designed to serve as a transaction device that can be fully controlled and regulated by the central bank and government, and fully meet their needs in terms of regulating the circulation of the currency. At the same time, cryptography-based electronic currency, which do not have a central body, is to perform transactions without reference to the authorities that now dictate who is allowed to pay who and vice versa. Cryptocurrencies on the other hand, are created with different ideas, which entails that CBDC aims at strengthening the economic status within a country, and cryptocurrencies are simply known to be liberating and anonymous in usage.

[joniboini]

Then in essence, what is the difference with the money they have created so far? And until now, CBDC has only been often echoed but has not been properly realized by governments in various countries.

In my country, I think they're essentially trying to replace digital fiat with something they can control even more easily. This will force digital wallet apps and banks in general to use their centralized currency instead of converting users' deposits to their own digital currency which is disconnected from government monitor. Its wide availability is planned for 2030 IIRC, so we're still a long way off for that. I don't think end users will notice any difference between CBDC and the current digital fiat, to be honest. I don't think my government calls it a cryptocurrency either. CMIIW.

[bitterguy28]

As the title says, do you even consider CBDC as part of crypto currency?

nope it’s just fiat in digital form and crypto is not defined simply as just being digital there’s many features of crypto that do not apply to cbdcs

if we were to use blockchain technology in other industries for example medicine and politics we wouldn’t call those crypto just because they are using blockchain tech so even if cbdc tries to appear as if they are like crypto and a “better alternative” it is still fiat and they shouldn’t be grouped together with crypto

[Bobcrypto]

As the title says, do you even consider CBDC as part of crypto currency?

I don't see it as a crypto, just because blockchain technology is used doesn't mean it's crypto for me because the basic essense of crypto I know is decentralisation so anything that lean towards centralisation is moving away from crypto and there is CBDC which is the extreme level of centralisation and not really any different from digital Fiat.

CBDC, in my opinion is just tied to the blockchain but not decentralized, and in this case, I personally see it as government fiat that is launched on the blockchain, and it is under government control.
If it is not decentralized, it not Cryptocurrency and I can't be trusted to work in the way as any crypto coin does. As far as crypto are concerned, decentralization remains the number one basic feature and this is completely lacking on CBDC. In short, CBDC is just government money deployed on the blockchain.

[albon]

As far as i know CBDC is not a cryptocurrency and is a central bank digital currency. Moreover, it is considered to be used as digital fiat currency or digital base money. Although CBDC may share some characteristics with virtual currencies and cryptocurrencies such as programmability in terms of usage. Even instead of printing money the electronic tokens or accounts are issued here. As a result the pressure on liquid money will be reduced and the cost of printing money will also be reduced. It will take seconds to transact and free people from the hassle of fake money.

[Zed0X]

Government are creating their own CBDC to make their citizens shy away from crypto but it is nothing but fiat in an advance way.

I don't think governments are creating CBDCs to make their citizens shy away from crypto, rather I feel they do so because they understand the advantages of blockchain technology, and want to make use of it.

Nah, it's a little bit of both. True that the application or usage of CBDC that I've read so far are for B2B transactions but I also expect it to be forced onto the regular bank users years later. Let's not forget that central banks across different countries have been issuing warnings against crypto and calling for ban before CBDC came along.

[bhadz]

It is not a crypto, it is not a stable coin because what CBDCs are local currencies that are backed by the government and that means that they're not. Because governments aren't for these things and that's why they are making their own version of it.

[bayu7adi]

CBDC is just a digitalization of currency carried out by the central bank... I can't say it's a cryptocurrency for now, because the application in my country has not happened so I'm not so sure to call it...

However, according to information circulating from countries that have conducted trials, CBDC is more towards a government currency with a fixed value... everything is centralized and they might use it to make it easier for people to understand cryptocurrency if they use blockchain.

[ZAINmalik75]

As the title says, do you even consider CBDC as part of crypto currency?

I don't see it as a crypto, just because blockchain technology is used doesn't mean it's crypto for me because the basic essense of crypto I know is decentralisation so anything that lean towards centralisation is moving away from crypto and there is CBDC which is the extreme level of centralisation and not really any different from digital Fiat.

CBDC is not a part of cryptocurrency but they do use the blockchain technology and blockchain technology is the part of cryptocurrency. In other words you can call CBDCs a digital form of finance using blockchain technology but the only difference is it's the centralized version and not developed and controlled by individuals or normal citizens but from a government.

They can seize funds, charge extra taxes, and and do whatever they want with your funds placed on CBDCs. They are not good for cryptocurrency adoption but minds of people using CBDCs can change to use crypto instead with time.

[MrSpasybo]

I don't think CBDC is crypto because it is a country fiat currency but in a digital form and has the same value of the country currency. Will I say that it is similar to crypto but not crypto. Government are creating their own CBDC to make their citizens shy away from crypto but it is nothing but fiat in an advance way.

Yeah, it's just a digital version of fiat, like the money in our bank accounts. The only difference is that it's a bit more decentralized, as it'll be operated on ledgers across several bank branches. But at the end of the day, a CBDC is still a financial tool under the centralized control of governments and central banks.

I would never consider a CBDC to be crypto. It doesn't use a public blockchain, and it's not owned by the community. A CBDC is just a tool for governments to increase their financial control over people.