101 Blockchains

Since the whole world is moving towards digitalization, the banks and financial institutions are also promoting their services on online platforms such as digital payments, e-trading, e-KYC, and many more. Even money has been transformed in different forms over time like coins, banknotes, cash, cheques, debit cards, credit cards, etc.  The rising discussions over the future of digital money are getting positive responses. The main reason is that the Central Banks worldwide have started giving recognition to Central Bank Digital Currencies (CBDCs). After the outbreak of coronavirus pandemic, the  benefits of Central Bank Digital   Currency  (CBDC) are realized by Central Banks for promoting digital payments for avoiding direct contact between people.  The Central Bank fully controls the issuance of CBDC and delegates transaction approvals to all the regulated financial institutions in the decentralized networks. The talks about CBDC have been going on worldwide for the past few years. Y

Over the years, traditional banking regulatory authorities worldwide have been struggling to control the clout of ethereum and bitcoin, which are popular cryptocurencies , working on the Blockchain network. Due to their regulation-free and decentralized nature., these cryptocurrencies have gained a lot of popularity.  The traditional banking systems which operate under the control of the country's regulatory authority like a central bank feel threatened by their presence. One is not aware if there is any suitable reserve maintenance for the cryptocurrencies' backup. Moreover, newly launched cryptocurrencies also raise concerns related to the possibility of thefts, hacks and scams.  Unable to control such cryptocurrencies' growth and influence, many leading central banks across the globe are working on or contemplating launching their cryptocurrencies' different versions.  The central bank digital currencies are regulated cryptocurrencies and are operated by central ba