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@article{183451,
        author = {DR. S. RAJARAJESWARI and DR. H. LAKSHMIPRIYA and DR. G.A. VAAKSHI and DR. BRINDHA NATARAJAN and DR. S. JAYARAMAN},
        title = {Central Bank Digital Currency (CBDC) – A Global Outlook},
        journal = {International Journal of Innovative Research in Technology},
        year = {2025},
        volume = {12},
        number = {3},
        pages = {1672-1684},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=183451},
        abstract = {The advent of central bank digital currencies (CBDCs) is revolutionizing the global financial landscape, with countries such as India, China, and Cambodia at the forefront of this digital transformation. This article provides an in-depth examination of the current state and future prospects of CBDCs, with a focus on their classification, technological frameworks, and economic implications. A key aspect of the discussion surrounding CBDCs is the debate over their classification, particularly with regards to currencies like China's Digital Currency Electronic Payment (DCEP) and Cambodia's Bakong, which have been criticized for not meeting the traditional definition of a CBDC due to their hybrid models and lack of direct central bank liability. In contrast, India's Digital Rupee is seen as aligning more closely with the narrow definition of a CBDC. The article highlights the diverse technological approaches being employed by different countries, including India's centralized ledger with blockchain elements, China's hybrid model, and Cambodia's permissioned blockchain. These designs are driven by the need for scalability, financial inclusion, and regulatory control. Looking ahead, the adoption of CBDCs is projected to grow significantly, with 20-30 countries expected to fully deploy retail CBDCs by 2030. This growth will be driven by the development of interoperability, privacy-enhancing technologies, and quantum-resistant cryptography. However, challenges such as privacy concerns, cybersecurity risks, and potential disruptions to the banking sector will need to be addressed.},
        keywords = {Digital Money, Smart Money, Central Bank Digital Currency (CBDC), Digital Currency, Electronic Payment (DCEP), Cryptocurrency, Distributed Ledger Technology, Token, Inclusive Finance, Banking, Payment System.},
        month = {August},
        }