What Happens If South Korea Launches a CBDC?
The era of digital won is approaching. As Central Bank Digital Currency (CBDC) becomes a reality, how will it reshape our daily lives and economic systems? Let's explore this transformation step by step. đˇ Visualizing the Future of CBDC Image Title: The Dawn of the Digital Currency Era Source: Bing Image / Vecteezy (royalty-free) 1. Smartphone Becomes Your Wallet Once CBDC is introduced, you can pay for taxis, coffee, or buses with just your smartphone. With a digital wallet, you can make instant payments using QR codes or NFC—no need for cash or physical cards. Real-time Payments: Instant debit without waiting for approval Lower Fees: No intermediary card network charges 2. Send Money Without a Bank You’ll be able to send money to family or friends without a bank app or account—just using their digital wallet. This service will be available 24/7, including nights and holidays. 3. Instant Go...