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The recent history of central bank digital currencies (CBDCs) has been marked by continuous exploration and development. By March 2024, over 130 countries were actively engaged in CBDC research with 3 countries, territories or currency unions having launched CBDCs, and 36 implementing pilot programs. [1]
Although the term "CBDC" did not become widely used until after 2019, central banks have researched and launched digital currency projects for decades. For example, Finland's central bank issued the Avant stored value e-money card in the 1990s. [22] In 2014, the Chinese central bank began researching the idea of issuing a CBDC. [23]
An audio format is a medium for sound recording and reproduction.The term is applied to both the physical recording media and the recording formats of the audio content—in computer science it is often limited to the audio file format, but its wider use usually refers to the physical method used to store the data.
mBridge (a.k.a. Multiple CBDC Bridge) is a multiple central bank digital currency platform developed to support real-time, peer-to-peer, cross-border payments and foreign exchange transactions using CBDCs.
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MPEG-1 Audio Layer II or MPEG-2 Audio Layer II (MP2, sometimes incorrectly called Musicam or MUSICAM) [7] is a lossy audio compression format defined by ISO/IEC 11172-3 alongside MPEG-1 Audio Layer I and MPEG-1 Audio Layer III (MP3). While MP3 is much more popular for PC and Internet applications, MP2 remains a dominant standard for audio ...
LibriVox is an invented word inspired by Latin words liber (book) in its genitive form libri and vox (voice), giving the meaning BookVoice (or voice of the book). The word was also coined because of other connotations: liber also means child and free, independent, unrestricted. As the LibriVox forum says: "We like to think LibriVox might be ...
As per RBI, CBDC will be an additional payment avenue for users and is not meant for replacing existing payment systems. The objective behind CBDC is to support and encourage the growing digital economy, reduce cost of physical cash management, create an efficient monetary payment system and further increase financial inclusion.