30 Questions
What is a key benefit of utilizing blockchain or similar technologies in CBDC transactions?
Reduced risk of counterfeiting
How might some CBDC designs influence spending behaviors?
By introducing interest rates
What is a major privacy concern when implementing CBDC systems?
Balancing privacy and regulatory needs
How could CBDCs potentially impact unbanked populations?
Offering greater access to financial services
What challenge needs to be addressed in transitioning from physical to digital currency?
Scalability
What potential risk is associated with the implementation of CBDCs?
Increased cybersecurity threats
What might be a concern regarding privacy and government surveillance in relation to a Digital Rupee?
Handling and protection of user information
How might the economic impact of a Digital Rupee be perceived by the public?
Positive impact on economic growth and stability
What factor could contribute to the wide acceptance of the Digital Rupee, particularly in rural areas?
Financial access to remote regions
Why is ensuring equitable access to technology crucial in shaping public perception of the Digital Rupee?
To address concerns about exacerbating the digital divide
How can the Government's communication strategy impact public perception of the Digital Rupee?
By providing transparent security measures and guidelines
Why might businesses be interested in adopting the Digital Rupee?
For potential to simplify transactions and reduce costs
What is a key advantage that many Indians might perceive in a Digital Rupee?
Streamlining payments for quicker transactions
Why could there be enthusiasm about a Digital Rupee regarding financial inclusion?
It could provide access to banking services for the unbanked or underbanked
What factor might influence public perception of a Digital Rupee related to government trust?
Trust in the government's ability to manage and secure the Digital Rupee
Which aspect might raise apprehension in some sections of society regarding a Digital Rupee?
Potential cybersecurity risks associated with digital transactions
How might a Digital Rupee contribute to boosting confidence in digital financial systems if implemented securely?
By bolstering confidence in digital financial systems
Why could some individuals be concerned about potential glitches or system failures with a Digital Rupee?
For apprehension about technological aspects such as system failures
What is a major weakness of the current financial system according to the text?
Reliance on a trust-based model
Why does the text mention that the new cryptocurrency bitcoin claims to overrule the need for intermediaries?
To explain its decentralized nature
What is the purpose of Finance Minister Nirmala Sitharaman announcing a digital currency in the annual budget?
To support the digital economy's development
Why did India implement regulations and restrictions on digital rupee?
To address concerns about economic stability and fraud
What is the goal of introducing a 'Central Bank Digital Currency' (CBDC) according to the text?
To develop the digital economy and offer an alternative to virtual money
What is the significance of the chosen 6 cryptocurrencies in the context of the text?
They are commonly used and well-known.
Why might the respondents who choose to participate in a survey affect the validity of the results?
They may provide socially desirable answers instead of their true opinions.
What is a potential issue related to the narrow range of questions or perspectives addressed in a survey?
It may not fully capture the complexity of the topic being studied.
When did other economic organizations start paying attention to the idea of central-bank issued digital currency?
2015
Who was mentioned as the original Bitcoin founder in the text?
Satoshi Nakamoto
What defines a Central Bank Digital Currency (CBDC) according to (Arme lies, Claussen, & Hendry, 2020)?
It is regulated directly by the central bank and supported by government power.
How might media coverage during a study period influence participant responses?
It may influence participants to provide answers that align with the media coverage.
Explore the features of Central Bank Digital Currencies (CBDC), including security, transparency, potential interest-bearing capabilities, and privacy concerns. Understand how blockchain or similar technologies contribute to secure and traceable transactions in CBDC systems.
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