Centralized digital currencies and their impact on bankingCBDC (Central Bank Digital Currencies) The BIS (Bank for International Settlements) is concerned about unregulated and decentralized cryptocurrencies traded in the market. Considering the demand for digital currencies and to maintain the value of electronic money, BIS framed the guidelines to issue CBDC (Central Bank Digital Currencies). Central banks around the world are planning to introduce regulated and centralized digital currencies with legal value. CBDC is the digital version of the respective central bank’s currency, which is legal and secured by the respective central bank. An IMF (International Monetary Fund) report states that almost 100 countries are exploring CBDCs (Central Bank Digital Currencies) in distinct p

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